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How to claim another loan after 100% loan disbursed? – Property Hotline
Posted
June 24, 2016
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174
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June 24, 2016
174
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6:15Now PlayingBe Un Confused
Expert: Kartik Jhaveri, Founder & Director of Transcend Consulting India Pvt Ltd.
Question: I invested in a property in 2007. This was a tripartite agreement between HDFC bank, the builder and me. Payments were supposed to begin only post possession. However, the builder ran away. I later learnt the bank had disbursed 100% of the loan to the builder immediately after the agreement was signed. My CIBIL rating is 626. I'm unable to secure another loan. I have no other default. What can I do?
Answer: Firstly it is not HDFC bank but HDFC ltd which has disbursed the loan. A home loan is always a secured loan. The lenders would have done the necessary due diligence before sanctioning the loan. This is their money is on stake.
The builder is absconding at this stage it is a bigger problem for HDFC and not you. In your case it is only your CIBIL score which is getting affected. You can control the EMI payments from your account.
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