Yes, you can indeed take out loans from the bank by using one of your properties as collateral. The repayment period for the installments is measured in hours, with the expectation that your city's revenue will consistently exceed the installment amount.
Regarding the warnings and negotiation window:
- Debt Auction: Once the third installment is missed, the system puts the debt up for auction. Other players can then purchase this debt, becoming the new recipients of the installment payments.
- Grace Period: For example, if you set up a 12-installment plan, you have 12 hours to settle the balance, as asset liquidation can only be triggered once more than 80% of the debt is in arrears.
- Final Negotiation: Once a player purchases your debt and initiates the liquidation process, a 6-hour negotiation window opens. During this time, the debtor can submit settlement proposals, which the creditor can choose to accept or reject.
In total, I estimate a timeframe of 18 to 42 hours, depending on the duration chosen when the mortgage was established.
Furthermore, I am currently integrating a clear notification system into the game's UI to alert players as soon as payments are missed. Since this is a WebGL-based game, I'll be conducting tests over the next few days to ensure the alerts behave reliably in the browser!