Mr
3 years ago
I had taken a home loan . Total loan amount is 47 lakhs . Worth of property is 67 lakhs . For reasons known unable to pay. Emi . Could I handover the property to the bank and get the liability closed
Adv. Sarika Khude
Responded 3 years ago
A.As per your inputs you are unable to pay the loan, as part of advice keep the property for sale for the available price in the market with a condition that the property is in bank and the buyer shall clear the bank loan as pat of agreement, it will get some benefits to you.
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A.Hi,
Property is taken over by the bank in case of default in payment of the EMI if you are unable to pay the EMI it is advisable that you communicate to the bank from where you have taken loan and reach a settlement for the loan amount.
Property is taken over by the bank in case of default in payment of the EMI if you are unable to pay the EMI it is advisable that you communicate to the bank from where you have taken loan and reach a settlement for the loan amount.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
Property is taken over by the bank in case of default in payment of the EMI if you are unable to pay the EMI it is advisable that you communicate to the bank from where you have taken loan and reach a settlement for the loan amount.
Property is taken over by the bank in case of default in payment of the EMI if you are unable to pay the EMI it is advisable that you communicate to the bank from where you have taken loan and reach a settlement for the loan amount.
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DIYAVARHUSSAIN SHAIK
Responded 3 years ago
A.Dear Client,
As per your inputs you are unable to pay the loan, as part of advice keep the property for sale for the available price in the market with a condition that the property is in bank and the buyer shall clear the bank loan as pat of agreement, it will get some benefits to you.
As per your inputs you are unable to pay the loan, as part of advice keep the property for sale for the available price in the market with a condition that the property is in bank and the buyer shall clear the bank loan as pat of agreement, it will get some benefits to you.
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Ravikanth Shinde
Responded 3 years ago
A.After surrendering the property, the bank will auction it. If in the auction they get more than the outstanding amount they will pay you the extra amount and close the loan. If they get less, they will recover the shortfall from you. If the advice is useful, please give me rating.
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Ravikanth Shinde
Responded 3 years ago
A.After surrendering the property, the bank will auction it. If in the auction they get more than the outstanding amount they will pay you the extra amount and close the loan. If they get less, they will recover the shortfall from you. If the advice is useful, please give me rating.
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