Deceased mortgage loan holder recovery


Dear Sirs,

 

I am vivek hariyani. I have already submitted 3 forums regarding this. I want to get final information about our case. My father was died in 2018. As per bank told me that they have filed case against my father in 2018 and at that time got hearing in favour of my father. Now my father has died, So they can file again any case against me. Because I have paid 70% of loan amount, But our loan account has became NPA. They are often threatened me about we are seized your house and filed a petition against.

So they can file any complaint / petition or not.

 
Reply   
 

Good evening,

A loan becomes a Non Performing Asset (NPA) because it wasn't fully repaid within the given time period. When a loan becomes NPA, the loan can be classified to be "in arrears", meaning it isn't generating any income for the bank. In such a situation, in order to cover their losses, the banks can seize mortgaged assets and sell them to gain their money back. 

These links will help you better-

https://www.lawyersclubindia.com/forum/regarding-deceased-mortgage-loanee-214988.asp

https://www.lawyersclubindia.com/articles/sarfaesi-act-management-of-npa-non-performing-assets-part-1-5706.asp

https://www.lawyersclubindia.com/articles/sarfaesi-act-asset-classification-and-definition-of-npa-6317.asp

https://www.lawyersclubindia.com/experts/can-bank-accept-payment-after-declaring-loan-account-as-npa--336536.asp

Regards,

Nandini

 
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