Housing loan dilemma

Sunil Dhayani (Querist) 03 May 2012 This query is : Resolved
I am going to take Housing Loan on behalf of my Jijaji as he has not sufficient documents to provide Banks to get loan.

Here my dilemma is that, what documents or legal processes I need to follow so I will be in safe place and my future loans eligibility should remain same.

I do not want to take Housing loan benefits so what documents I need to collect from my Jijaji.

My Jijai is going to pay margin loan money as well as future EMI.

Follow Query

Report Abuse

ajay sethi (Expert) 03 May 2012
dont take loan for jijaji .

ruins relationship with family members .

contact a local lawyer .

even if he defaults you wont go to court against him

Nadeem Qureshi (Expert) 03 May 2012
Dear Sunil
if the relationship is good with him and you have fully trust on him and you think that due to this payment, or due to default you relation will be good, you can took the Loan from Him.

Suhail A.Siddiqui (Expert) 03 May 2012
Since u obtain loon for any body all legal liability stand against u.

Sunil Dhayani (Querist) 04 May 2012
Thanks all of you for your valuable advise.

They don't have house so I have to help them to sort out this otherwise they will pay rent amount which is very much equal to the future EMI.

Actually I am not much interested to take tax benefits from this housing loan and I want to keep my loan eligibility intact.

Is there any chance whether we can have some sort of legal document which mention that my Jijai will give me the cash/cheque to pay the EMI and I can show the same when I will go for another loan.

I really appreciate your advise.