Home loan defaulter

Bhushan ghedia (Querist) 04 September 2021 This query is : Resolved
I have recived possesion letter from SBI home fin. Co.
Order us to empty home with in 2 months from (date 21th august 2021)

On other side my cousin brother is owner of the property but we where paying loan installment as now cousin wants us to empty flat
So he is giving surrender of property to bank

Kindly suggest what to di

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This discussion concerns a home loan default situation where the property ownership is with a cousin, but the loan was paid by the family. The bank has issued a possession letter, demanding the property be vacated within two months. The family is seeking advice on how to handle this, considering options like a one-time settlement with the bank or requesting additional time to find alternative accommodation.

Bhushan ghedia (Querist) 04 September 2021
As we had join family business
We kept our flat ownership on the name of our cousin

But after 3 years our family got saperated
And issue started

We request our cousin to transfer loan
So we can pay loan amount

By the way loan emi is due since 14 month
But cousin wants to empty flat

We just need some time to find rent place

Dr J C Vashista (Expert) 05 September 2021
Move an application to Bank / DRT for one time settlement.

Pradipta Nath (Expert) 05 September 2021
Please take help from someone who can write for you for better appreciation of facts and context.

SHIRISH PAWAR, 7738990900 (Expert) 05 September 2021
Hello,

You can request bank for one time settlement if you wish to repay and settle the account or you can request bank for some time for vacating flat.

P. Venu (Expert) 05 September 2021
Yes, the facts posted are vague and disjointed.

kavksatyanarayana (Expert) 05 September 2021
Yes. Your query requires full facts.

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