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Home Loan settlement option due to no income


20-Jul-2023 (In Recovery Law)
I have home loan running with bank from last 6 yrs, all EMI are paid regularly but now I don't have job from last 2 months & having cash crunch to pay regular EMInnalso job continuation isn't possible for some time due to health issuesnnhow can I get bank agree to settle home loan amount as last time during covid I had personal loan which was settled for 65% of total amountnnso pls share me how I can settle home loan which is 49 lac as principal outstanding left
Answers (1)

Answer #1
653 votes
Dear Client, That is the Housing Loan, not a Personal Loan herein you mortgaged Documents of Property, but if you have health issues, then you should approach High Court against SARFASAI proceedings under section 13(2) and 13(4) and thereafter Auction Proceedings.
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Advocate Anurag Bhatt

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