Legal Question in Banking Law in
if i give guaratee for a home loan from G.I.C to other person who is paying upfront 35%of home value upfront ,what is my liability in case when he defaults?
Asked on 8/29/10, 1:50 am
3 Answers from Attorneys
Vishwa Arya
Arya & Co.
liability of the guarantor is coextensive with the borrower. the GIC may attach your property if the borrower commits default
Answered on 8/29/10, 2:02 am
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
equal to the liability of the person paying upfront.
Answered on 8/29/10, 10:35 am
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
After the loan is recalled, the lender may institute recovery proceedings against you alongwith the borrower.
Answered on 9/04/10, 7:26 am
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