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Vijay Dattatraya (Own business )     10 May 2021

Two Property Loans

Respected Sir/Ma'am,

There are two properties on my name on which home loan and mortgage loan is going on.

I am not abel to pay dues on my 2nd property ( Mortgage loan ) due to my jobloss.

I am paying my dues on home loan .

Mortgage loan lender is saying that they will seal both the properties on the receipt of non payment of mortgage loan..

Home loan is from a different bank.

My concern is that do they have such wright to do so ?

Home loan documents ( Agreement & Sale deed ) is along different lender.

Great if u can advise me on this.

Regards
Vijay


Learning

 3 Replies

Sankaranarayanan (Advocate)     10 May 2021

Show the papers and details to local lawyer and better to find solutions. 

Pradipta Nath (Advocate)     10 May 2021

Even if both the banks are same, no mortgaged property can be set off or clubbed with another mortgaged property. The simple reason is that the subject matter of the mortgaged property is different! 

Trivendra Sharma (Practicing Lawyer 9918411669)     10 May 2021

Any two loan accounts can not be clubbed. They might have got some papers signed from you in this respect by concealing some facts or otherwise. 

Please check again. 


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