what will be the impact of the global meltdown on people who have taken housing loans ?



With news of banks slashing interest rates…will the existing borrower benefit and also are there chances of principal amount being reduced keeping in mind the reduced property rates?

what will be the impact of the global meltdown on people who have taken housing loans ?
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3 Replies to “what will be the impact of the global meltdown on people who have taken housing loans ?”

  1. they dont have to pay loan’s anymore as the respective banks must be under water ! LOL

    well dont mind but your question contains ecology and commerce both !


  2. U know what?

    The real benefits of all this will be passed on to end users (loan borrowers). But this is gonna take time.

    As banks, raise the interest rate the very next day of the RBI announcements, the reciprocation doesn’t happen in 1 day. lol

    I mean the slash in the home loan rate.


  3. By the reductions in interest rate by the banks you can expect the same reduction in the succeeding month onwards provided you have opted for floating rate of interest.

    How do you expect the principal amount be reduced due to reduction in the market rate of properties. In your concept if the property prices suddenly goes up your outstanding principal also need to be increased by the bank.





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