Home loan cancellation after disbursement
Murli
(Querist) 01 February 2018
This query is : Resolved
Under construction flat, which was registered and bank loan disbursed. Agreement says any delay builder will commensate with nominal rent (3k). But the delay is more than a year now and I feel it may take more time for completion. I am paying 9k rent and also pre-emi which is big burden. Can I cancel this flat, loan and come out of this?
Sudhir Kumar, Advocate
(Expert) 01 February 2018
nothing clear worth forming a view.
How cancellation of loan is applicable in this case.
It appears you want to unilaterally (without any fault of bank ) want to cancell loan.
What you can do :-
(i) cancel deal with builder and take back what at all he gives (if at all he is willing to pay even a single penny to you or directly to the bank).
(ii) go to bank and refund entire money they have lent to you + up to date interest + foreclosure charges. Irrespective of the fact how little you received from builder or how huge bank claims.
Sudhir Kumar, Advocate
(Expert) 01 February 2018
other alternative is to sue the builder in consumer court if advised by your lawyer after reading the agreement.
Kumar Doab
(Expert) 01 February 2018
Loan is by lender.
Lender may agree upon payment of debt (outstanding).
The rent is as agreed and is being paid.
So what exactly is to be achieved thru cancellation of loan!
SHIRISH PAWAR, 7738990900
(Expert) 01 February 2018
You cannot cancel the loan sanctioned by bank. However you can file case against builder and you can claim compensation for delay in possession of flat.
Dr J C Vashista
(Expert) 02 February 2018
Vague query without relevant facts but including irrelevant facts, consult a local prudent lawyer for proper appreciation of facts of the case, analyse, form an opinion and advise.
Kumar Doab
(Expert) 02 February 2018
Get the matter related docs and inputs duly examined from a very able LOCAL senior counsel of unshakable repute and integrity specializing in consumer matters for a considered and proper legal opinion…
This may cost some FEE but can defend long term interest and hard earned monies.
Under the changed circumstances and/or intentional or inordinate delay the interest of consumer may be indeed affected …
Kumar Doab
(Expert) 05 February 2018
Show the entire case file containing all relevant docs and give your inputs in person to a very able senior LOCAL counsel as suggested ….for a considered opinion.
The builder on IT’s own may not necessarily offer you more than what IT has already offered.
Kumar Doab
(Expert) 08 February 2018
Check at LOCAL DCDRF and prepare your own list of such counsels and chose..
At online portals you can go thru the threads under profile of Member/Expert….and check on the conduct, success, sarcasm, abuse…..
In many cases at LCI also it is posted by many querists that unscrupulous entities advertise photos of very sick and old individuals and claim that FEE once paid cannot be collected back….
If you wish you may also search in LCI databank…at;
http://www.lawyersclubindia.com/lawyers_search/
