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Pursuing the Mortgage by Converting it into Cash: Process in Mortgaged Housing and Loan Debt. Within the scope of EBL Article 148-150, the payment order, enforcement order, acceleration notice and sale request period have been updated as of 2026.
If the housing loan or commercial loan is secured by a mortgage, the creditor can initiate proceedings by converting the mortgage into cash instead of general foreclosure. In this proceeding, the property subject to guarantee is first applied, and the sequestration method is only used for the lien deficit. In mortgage proceedings, the debtor is given a payment period of 30 days, the objection period is 7 days and the sales request period is 1 year. The guide explains the importance of the contractual statement, the difference between a payment order and an enforcement order, ways to object and protection options for the credit debtor.
1. What is Pursuance through Conversion of Mortgage into Cash?
Mortgage is the pledge of real estate in the title deed as security for a receivable. When the debt is not paid, the creditor may want to collect the receivable by directly selling the mortgaged property. This method is called "pursuit by converting the mortgage into cash" and is regulated in EBL Article 148 et seq.
While in general foreclosure, the creditor can direct all assets of the debtor, in mortgage proceedings, priority is given to the pledged property. Foreclosure can only be resorted to if the sales price of the mortgaged property does not cover the receivable, up to the extent of the lien deficit. The mortgagee receives the first share of the price in the tender; The remaining part remains with other creditors.
2. Payment Order or Execution Order?
The document to be sent to the debtor in mortgage proceedings varies depending on the statement in the contract table. If the debtor's unconditional acknowledgment of debt is included in the contractual table, an enforcement order is sent in a manner similar to a legal proceeding. If there is no such acknowledgment, a payment order is sent similar to a proceeding without a judgment.
When? If there is no acknowledgment of debt in the contract statement If there is an unconditional acknowledgment of debt in the contract statement
Payment term 30 days for mortgage, 15 days for movable mortgage 30 days for mortgage, 15 days for movable mortgage
debtor's way Objection to debt and lien rights within 7 days Request for postponement of execution instead of objection
In credit relations, even if there is no acknowledgment in the contractual table, if there is an account statement or payment notice sent by the creditor bank through a notary, it is possible to issue an enforcement order (EBL article 150/ı). This rule speeds up follow-up for banks; However, it narrows the debtor's defense opportunity.
3. Why is the due date notice important?
When the installments are not paid in the loan debt, as a rule, the receivable becomes fully due only with the closing of the account and the notification of maturity. The notice of urgency must be sent to the address notified to the land registry or to the address written in the contract. If the debtor has not notified the change of address, the notification made to the old address is considered valid.
The practical consequence of this rule for loan debtors is that the change of address must be notified to the bank and the land registry office. Otherwise, the warning and payment order may become final without the debtor noticing.
Objection to the debt and the right of lien: In mortgage proceedings, the objection must be directed to both the debt and the right of lien. Only objection to the pledge is considered acceptance of the debt. If the right of lien is not explicitly objected to, the lien is deemed to be accepted.
Invalidity of the lien right: This claim is made in a separate lawsuit, not by objecting to the payment order.
Mortgage scope: Requests exceeding the mortgage amount written in the contract table and interest items not covered by the mortgage may be subject to objection.
Postponement of execution against the execution order: If the request is rejected and an appeal is filed, a guarantee of 15 percent of the receivable is required; This rate is 30 percent for housing finance and TOKİ receivables.
In case of objection, the creditor must remove or cancel the objection. This period is not taken into account in the calculation of the sales request period.
In mortgage proceedings, the sale must be requested within 1 year from the notification of the payment order or enforcement order. For movable mortgages, this period is 6 months; On ships, it is 3 months. The time in which the objection removal or annulment case continues is not included in the calculation of this period. If the deadline is missed, the pursuit is dropped and the creditor has to start a new pursuit.
If the price obtained from the sale of the mortgaged real estate does not cover the receivable, the creditor may apply for foreclosure for this missing amount. At this stage, the lien gap document is given to the creditor. The document is divided into provisional and definitive: the provisional document shows the deficit according to the valuation before sale; The final document shows the deficit after the sale and has the nature of an acknowledgment of debt. If the lien request based on a final document is made within a certain period of time, a new payment order is not required.
A bank initiated mortgage proceedings against the mortgage debtor. Although the debtor moved, he did not notify the land registry office of his new address. The execution order was sent to the old address and deemed to have been notified.
Since the debtor did not notify the change of address, the notification is deemed valid and the 7-day period has started. When the debtor becomes aware of the enforcement order, if the period has expired, he can only complain to the enforcement court alleging irregularities. This shows how important address notification is for credit debtors.
Can the creditor execute the mortgage without selling my house?
Yes. Mortgage gives the creditor the right to apply for the mortgaged property. If the debt is not paid, the mortgaged property can be sold through enforcement.
Do I owe the same amount as the mortgage amount?
The mortgage is limited to the amount specified in the contractual table. However, the actual debt may be more than this; For the excess amount, the creditor may apply for general lien.
When does follow-up start on a mortgage loan?
The debt must be due. Proceedings can be initiated after non-payment of installments, payment of the account and notification of due date.
Can a statute of limitations objection be made in mortgage proceedings?
A statute of limitations objection cannot be raised in unsolicited lien proceedings. In a receivable secured by a pledge, the creditor retains the opportunity to collect from the pledged goods even if the receivable has expired.
Not requesting the postponement of the execution within 7 days against the execution order
Mortgage enforcement is the area where the balance between the creditor's right to apply for security and the need for protection of the debtor's home is the most sensitive. The content of the contract table, the due date notification and the follow-up of the periods determine the result. Küheylan Law Firm carries out the follow-up of bank and commercial loan receivables, and the defense against payment orders and enforcement orders on the part of the loan debtor, in a timely and complete manner; For detailed evaluation, an appointment can be requested via info@kuheylanhukuk.com.
Important Legal Notice: The legal explanations contained in this guide have been prepared by Küheylan Law Firm for general information purposes and do not constitute legal advice. In enforcement and bankruptcy law, the periods are short and the consequences are heavy; Since each file has its own unique conditions, it is recommended to get support from a lawyer before taking action. © 2026 Küheylan Law Firm. All rights reserved.
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