Home loan query

Ankur Mazumdar (Querist) 27 March 2014 This query is : Resolved
Sir,

I had taken a home loan from IDBI bank for my flat in 2012.My father was co-applicant in the loan application.My father had expired in October 2013.Now I would like to foreclose the loan account.Will the bank cause any problem in foreclosure as the co-applicant, my father, is no more.What will be the process if I want to foreclose the loan.

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ajay sethi (Expert) 27 March 2014
you are at liberty to foreclose the account on repayment of loan amount . obtain letter from bank that loan has been rapid there are no outstanding dues .

take back all original documents in bank possession .

Rajendra K Goyal (Expert) 27 March 2014
You can foreclose the loan account, no penalty charged if not closed from the proceedings of another home loan from other Bank.

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