I cant pay my housing loan is there a way through which i can get a discount even in the principal amount HELP?



I lost the business due to the Metro Rail and Road widening, not only this I have spent heavy sum on Hospital bills for me as well as my mother now I am broke. The flat I bought is on top floor and after occupying the rainy season started and the flat started leaking all over.

5 Replies to “I cant pay my housing loan is there a way through which i can get a discount even in the principal amount HELP?”

  1. Please consult the bank officer who have provided you the housing loan. He will try to sort out your problem of being bankrupt. There is a way to declare bankruptcy by filing an application in court. Please visit any law practitioner for such help.

    Please do not get mislead by sharks who are preying on gullible persons like you to extract some more money from you.


  2. I am sorry to read your plight. But before i suggest something, i would like to have more details from you.
    1. Loan Amount
    2. Date of Loan
    3 Installments Paid
    4 Installments pending
    5 Loan outstanding as per Bank records
    6 EMI amt
    7 Tenure of Loan
    8 Current Market Value of Property
    9 Lending Bank

    apart from the above information please send me the following details;
    1. Current Occupation
    2 Current Income from all sources
    3 Current Min Monthly Expenditure
    4 Other loans & liabilities
    5 Assets you own

    Based on the above information i can probably try to guide you, what best solution can be worked out. No bank gives discount on Principal but you should get in touch with your bank and ask them to restructure your debt considering your current situation. No action on your part would only lead to harrassment, legal notices and mounting interest and penalties, if you are not paying your debt.


  3. 1. Explore the Possibility of Shifting to another house at a Lower Rent and Rent out your Flat at a Higher Rate. The difference may be used to pay loan. Give your house on rent for 11 Months. Increase Rent by 10% Every Year. Or Take Deposit of 6 Months Rent and Rent out your House for 24 Months with Rent Increased by 10 % after first 12 months.

    2. Ask the bank to Increase the duration of the loan and hence decrease the installment per month.

    3. Try to transfer your Loan to State Bank of Travancore / State Bank of India if the current loan is from any Private Bank.



  4. Have you been turned down by so many banks? Firms? Do you need finance to establish your business? Do you need finance for the expansion of you business? Are you in need of debt consolidation loans? Or do you need a personal loan? home refinanncing loans or others? If your answer is yes, then look no further because GOSHEN CO-OPERATIVE COMPANY is the best place to get all these finaincial assistance.
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