Home loan guarantor
9 months ago
What should I do if I become a home loan guarantor and I don't know about this in my knowledge and I don't how I become the guarantor I'm just go bank for personal loan guarantor of rs 1.5 lakh but I don't know about this home loan n that room was illegal n destroyed so what should I do to remove my self as a guarantor this is about my mom she is 50 year old uneducated and this loan is taken by my uncle
A.Dear Client,
There may be many reasons for a guarantor to withdraw from the liability of a guarantor,. However, a bank may not allow a guarantor to withdraw unless the borrower gets another guarantor or brings in additional collateral securities. Even if another guarantor comes in, the bank has the discretion to prohibit the switchover or shifting of the guarantor's name in a loan account. So, if you can arrange another guarantor in place of your mother, you can approach to the Bank for the replacement of the guarantor's name in the Loan A/c.
There may be many reasons for a guarantor to withdraw from the liability of a guarantor,. However, a bank may not allow a guarantor to withdraw unless the borrower gets another guarantor or brings in additional collateral securities. Even if another guarantor comes in, the bank has the discretion to prohibit the switchover or shifting of the guarantor's name in a loan account. So, if you can arrange another guarantor in place of your mother, you can approach to the Bank for the replacement of the guarantor's name in the Loan A/c.
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A.Dear client,
As you are claiming that you have been made the guarantor without your consent, you can approach the bank by sending them a legal notice to remove your name as the guarantor
As you are claiming that you have been made the guarantor without your consent, you can approach the bank by sending them a legal notice to remove your name as the guarantor
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