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Author Topic: home loan and personal loan  (Read 1533 times)

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Offline vms0404

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home loan and personal loan
« on: March 10, 2014, 08:49:47 AM »
I have taken a Home Loan and Personal Loan with the same Bank. While I am paying the EMI of Home Loan regularly till date, due to financial constraints I could not pay the EMI of Personal Loan (37 out of 48 paid).  Now the Bank people tells that I will not get back the house documents even after I completed the EMI of Home Loan.  Further they intimated me that they will auction my house for the personal loan.  The remaining amount in my personal loan is Rs.1 lac only.  They asked me to pay the amount ine one or two instalment.  At present I could not pay the entire amount.  I am ready to pay the amount in 10 instalment.  Kindly  advice me.

Offline tapsash

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Re: home loan and personal loan
« Reply #1 on: March 10, 2014, 07:36:38 PM »
Tell them to give you in writing whatever the bank has to say. Once u get that let us know we can than advice you appropriately.... Regarding bank auctioning your house.... Its not so easy every bank has a legal team...hence they wont take any foolish step
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Offline advromitdatta

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Re: home loan and personal loan
« Reply #2 on: March 10, 2014, 07:43:28 PM »
Are u paying home loan emi in time... If yes than they cannot auction your home.... Loan is a terrible thing beg borrow and finish it off
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Offline vms0404

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Re: home loan and personal loan
« Reply #3 on: March 10, 2014, 07:55:04 PM »
Thank you so much for your replies.  I am paying the EMI of Home Loan regularly.   Now also I am ready to pay the personal loan balance with reduced EMI.  But they are not accepting. They are telling to pay One lac in two shots.

Offline vms0404

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Re: home loan and personal loan
« Reply #4 on: March 11, 2014, 04:57:04 AM »
Home Loan EMI is still running. It will complete in 2017 only. Yesterday Bank official called me over phone. He introduced himself as Regional Manager of the Bank. He told that as per RBI's latest instruction, they can auction my house even though EMI of Home Loan regularly paid. I request that if they combine or consolidate both the loan and re-structure the EMI i am ready to pay. Then he told that is not possible. After hearing their intimidation my family members are scared and crying. I also could not tolerate the mental agony.

 

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