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DHARMENDRA RAO Y   03 February 2021

changing of guarantor for housing loan

I was stand as guarantor for my friend housing loan now account become NPA , Is their any options for changing of guarantor for the loan(withdrawal of guarantor for loan) if borrower and bank accept for changing of guarantor


Quick Summary
This discussion explores the possibility of changing a guarantor for a housing loan when the account has become Non-Performing Asset (NPA). Unfortunately, it's generally not possible to change a guarantor once the loan account is NPA. However, if the borrower manages to regularise the account, then changing the guarantor might become an option, subject to the borrower's and the bank's agreement.

 2 Replies

SHIRISH PAWAR, 7738990900 (Advocate)     03 February 2021

Hello,

Changing in guarantor after the account became NPA is not possible. 

DHARMENDRA RAO Y   15 February 2021

if account become regular means we can change a sir

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