Housing Loan
This query is : Resolved
Dipak Bhatt
(Querist)
27 December 2010
Dear Sir,
My brother looking for Housing Loan and he want me to be as a co-brrower but he don't want my name as co-purchase of flat. My question is that normally loan gets sanction for 15 years. In during the tenure anything wrong happened how bank will react with me? and what role my would be?
Please guide me.
Thanking you
My brother looking for Housing Loan and he want me to be as a co-brrower but he don't want my name as co-purchase of flat. My question is that normally loan gets sanction for 15 years. In during the tenure anything wrong happened how bank will react with me? and what role my would be?
Please guide me.
Thanking you
CA. vijay kr. sharma
(Expert)
30 December 2010
bank provides housing finance that may be separatly and jointly, in case of co-ownership the bank shall rcover the portion of loan attibuted to each and in case of future misfortune the bank first recover the loan sum from the existing co-onwer and thereafter procced to recover form the estate of others
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