Core Viewpoint - The rise of "mortgage default protection" services is becoming a lifeline for homeowners facing debt crises amid a deep adjustment in the real estate market and changing economic conditions. Various legal teams are targeting this group, offering services that claim to help homeowners retain their properties, but these operations carry significant risks and may lead to further financial loss for the homeowners [1][3][10]. Group 1: Market Context - The real estate market is undergoing a significant adjustment, leading to a surge in demand for "mortgage default protection" services among homeowners who purchased properties at high prices and are now unable to continue mortgage payments [1][3]. - Many homeowners are facing situations where their property value has dropped significantly, leading to scenarios where selling the property does not cover the outstanding mortgage, a situation referred to as "negative equity" [3][4]. Group 2: Service Offerings - Legal teams are offering various service packages for homeowners, charging fees based on the amount owed, typically ranging from 1% to 5% of the outstanding mortgage [3][5]. - Different institutions have varying service models, with some offering a more systematic approach that includes an initial fee for assessment and ongoing monthly fees for legal support [5][6]. Group 3: Risks and Concerns - The "mortgage default protection" services may lead to significant risks for homeowners, including damage to credit scores, potential loss of property, and legal complications arising from ineffective agreements with service providers [10][11]. - The operations involved in these services, such as "capital recovery" and delaying judicial processes, can increase the risk for banks and may lead to higher costs associated with non-performing loans [6][7]. Group 4: Recommendations - Experts recommend that homeowners facing repayment difficulties should proactively negotiate with banks for adjusted repayment plans rather than resorting to unregulated services [12]. - It is advised that homeowners should consider legitimate channels for asset disposal to avoid the risks associated with gray market operations [12].

Core Insights - The article highlights the struggles of homeowners in major cities who are unable to sell their properties for enough to cover outstanding mortgage loans, leading to a growing trend of "unable to sell" situations [1][8]. Group 1: Homeowners' Financial Struggles - Homeowners like Yang Qing and Wang Bin are facing significant financial distress as the sale price of their properties is insufficient to cover remaining mortgage balances, resulting in potential losses of hundreds of thousands [1][5]. - Yang Qing's property, purchased for nearly 400 million, is now valued at around 220 million, leaving her with a shortfall of over 100,000 to cover the mortgage [2][3]. - Wang Bin's property, originally bought for over 200 million, is now estimated to sell for only about 100 million, with a remaining mortgage of 120 million, indicating a severe depreciation in property value [4][5]. Group 2: Impact of Economic Conditions - The article notes that many homeowners who bought properties between 2018 and 2021 are now experiencing a dual challenge of high property prices and rising mortgage rates, making it difficult to manage monthly payments [8]. - The economic downturn has led to job losses and reduced incomes, further exacerbating the inability to meet mortgage obligations, as seen in Yang Qing's case where her husband lost his job [3][8]. - The trend of homeowners unable to sell their properties is increasing, with reports of individuals resorting to borrowing money to cover mortgage payments, which is not a sustainable solution [8][9]. Group 3: Selling Strategies and Market Dynamics - Some homeowners, like Ma Yan, have opted to sell their properties despite incurring losses, as the financial burden of mortgage payments became unsustainable [6][7]. - The article discusses the role of real estate agents in advising homeowners to sell quickly to avoid further losses, with some properties expected to depreciate even more in the near future [5][8]. - There are emerging services aimed at helping homeowners manage their mortgage payments through loans, but many homeowners do not qualify for these options, leaving them with limited choices [8][9].