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Full Coverages>Life>China Snapshots>South China | |
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More people defaulting on housing mortgages
An increasing number of people in Guangzhou are being sued by banks for failing to meet monthly payments for housing and car mortgage loans, reports Information Times. At a local bank, one in four customers who had taken housing loans has defaulted. Financial difficulties arising from factors such as the loss of job, break-up of couples or accidents have led to the high rate of default. |
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