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Unable to pay Home Loan EMI due to added foreseeable responsibilities.
23-Sep-2023 (In Property Law)
I took a home loan in Delhi over a year ago. I planned to sell off the property within a couple of months but could not sell it even in a year now due to bad market conditions. I am now continuously paying EMIs on this home loan and not able to save much money for future. Can I go to bank to voluntary surrender the property? How will the bank respond? Do I have to furnish my income details in that case?
there will be an arbitration clause the loan Agreement that you have signed with the bank . to invoke that arbitration clause you will need to write a letter to the bank invoking the arbitration clause and there offer to settle the loan
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Adv. Kawaljit Singh Bhatia
Delhi | 400+ Answers
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