Legal Question in Banking Law in India
my husband had taken a housing loan from a bank. he expired 7 months ago. I am not in a position to repay the loan amount. what if i dont repay? My only house the shelter of my children is mortgaged with bank
Asked on 2/22/11, 6:39 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
The Bank will take symbolic possession of the house and sell it for dues on the loan. Better make some arrangement to settle the dues to the bank.
Answered on 2/22/11, 1:27 pm
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