Hello Experts,
This is regarding the home loan default of my house. Due to some personal constraints, I had to stop paying the EMIs of the house. Most probably the bank will auction it a much lower price as compared to market price. My questions are:
1. Can talk with the bank so that I can participate in the auction of my own house?
2. If yes, do I need to furnish a surety, bank balance etc.. at the time of bidding?
3. I think the bank invites 3 bids for the auction. Can I furnish more than 1 bid?
4. I know that EMI payment will affect my credit rating...but can I negotiate with the bank so that I can issue fresh loans from the same bank irrespective of lower credit rating due to EMI payments being stopped from my side?
Regards
Nuvo
