nandhakumarr 07 January 2015

To know about mortgage deed without possession

Hi,

I bought a land 5 years before and i did not check the EC for the land. Because i bought it from the neighbor.Now while trying to sell its showing Mortgage deed without possession in (1992) for Rs.3000 at the interest of Rs.1.25 only for 2 years in EC.

He did not filed any case against this property. I am ready to pay Rs.3000 with interest but he is asking Rs. 3 lac nearly half of the property rate. If i filed a case against this property what is the percentage of chance to win.

Thanks in advance.

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Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 07 January 2015

If you are in mortgage arrears, your mortgage lender will want you to clear them. If you don’t do this, your mortgage lender will start court action. This is called possession action and could lead to you losing your home.

However, don't panic, because you can stop this from happening. But you must take action straight away.

You may be able to stop the case from going to court by negotiating an arrangement with your lender.