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How to recover house from bank bought under home loan
02-May-2023 (In Banking / Finance Law)
Dear sir, I've paid emi of home loan with few irregular payments ( Two times I've paid the whole dues after 60 days) .After 65 emis now the bank officials inform that there is a difference amount of 65000 rs i should pay or they will take SARFASI action against the property. Loan amount 22,90,000. Interest levied is 11,80,000 towards this I have paid 14,67,000. I requested for 6 month time to pay the difference amount at the same time i agreed to pay current emis but they didn't accepted only way is to recover the house which Worth's about 45 lakhs. Is there any legal help I can get?
First ask the bank to explain how the additional sum was arrived at and charged to your account. Check if the bank is entitled to charge you so by virtue of the loan documents signed by you. Better negotiate with the bank for a mutually acceptable settlement.
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Adv. Swaminathan Neelakantan
Coimbatore | 400+ Answers
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