demand promisory note - home loans - banks...?
in india, why do some banks ask for demand promisory note in case of property or home loans...when they already have the right to mortage the property if we default.. it says, with demand promisory note, they can take us to court.. how can someone pays when they dont have money,even if bank goes to the court.
ha ha ha you don't know the simple logic yes you are right that you have given mortgage but you know the difference between the money suit and a mortgage suit i will simply tell you or explain you it is easy to win money suit and it is hard to go/win mortgage suits you know that if there is a default of say 43000/or 67000/ for which the bank has to go for the sale of a house worth 20 lakhs is it fair then there are some cases you know that the house can be taken possession and brought up for auction but there won't be any bidders because of political/goondas threat or caste leaders prevention etc etc again i have built up a house at say 10 lakhs in a remote corner of remote village it may be worth but how many will like to bid it in auction so money suit is easy and simple than the mortgage do you understand
Related articles
Investor's losses: When the bank sticks and when not
Home Loan (Refinancing option)??
how do I get a government small business loan?
Will a credit score of 682 get me a decent home loan in this market?
I have taken a house in Canada. Does it make sense to take a home loan in India to finance the house?
| The mortgage is a pledge of real estate for maintenance of obligations to the creditor. At mortgage lending the borrower obtains the credit for purchase of real estate or other purposes. Its obligation to the creditor is credit repayment, and provides execution of this obligation real estate pledge. |
Credit unions hit highest volume of loan originations in five years
The 330 financial cooperatives headquartered in Maryland, DC and Virginia originated a total $11.2 billion in loans in the past quarter, a 20 percent increase from the same time a year earlier. First mortgage loans grew the most, up 43.5 percent to
TexasLending.com to Discuss Changes to FHA Loans on Radio KLIF in Dallas
Kevin Miller, CEO and president of TexasLending.com, a Texas home loan and mortgage company specializing in Texas refinance loans and Texas home equity loans, and his co-hosts will discuss the upcoming changes to FHA on June 1st which will impact the Find first-time homebuyer helpRochester Democrat and Chronicle
Loan mix changing; still home loans rule the roost
Banks disbursing loans above Rs 75 lakh will have to keep aside 125 per cent of the loan amount as bad debt provision. Most banks have reduced their base rates, ie, the minimum lending rate, and so, have slashed interest on home loans as well.
Main menu
Info
| © 2010 Home Loans for You. All Rights Reserved. | Site Stat |