My friend and I was working in PSU. My friend had taken housing loan of about Rs. 475000 from Canara Bank in 2008. I am guranteer for this loan. I had left the PSU job in 2009 and working in Pvt Company. Now I have applied for Loan against property in ICICI Bank. My case is clear but the obligation is the gurantee in Canara Bank. So they ask me remove my name from that gurantee. But the canara bank says that the name can not be removed. so what should I do ? I am not also in position to bear that gurantee in Canara Bank. Shall I give in writing to Canara Bank to remove my name ?
