Legal notice for the demand for balance payment under home loan

sandeep mathur (Querist) 13 July 2013 This query is : Resolved
REPLY OF YOUR LEGAL NOTICE : LOAN ACCOUNT NO 5806, AND 5811

DEAR MR.ADVOCATE

REF TO OUR TEL-CON PLS FIND MY REPLY AS BELOW :

1. I HAD ALREADY REPLAYED YOU EARLIER WITH MY MEDICAL DOCS.. ACTUALLY I AM SUFFERING FROM ASCETIC TB AND TREATMENT IS STILL CON TUNE.

2.SINCE 2010 I AM NOT ABLE TO PAY INSTALLMENT ON REGULAR BASIS AND WHEN EVER I GOT FUND I PAID TO YOUR HOME LOAN DIV.

3.I HAD TOLD MR.WIG AS SOON I WILL RECOVER FROM MY ILLNESS I WILL RE START PAYING MY INSTALLMENT AND DUE AMOUNT.

4. IF I AM PAYING INSTALLMENT FROM LAST 10 YEARS SO WHY SHOULD I WILL NOT PAY IN FURTHER PRESENTLY I AM ENABLE TO PAY INSTALLMENT DUE TO MY ILLNESS

5. HOME LONE WAS PROVIDE ME ON THE BASIS OF THAT TIME MY FINANCIAL SITUATION BUT EVERY TIME CAN NOT BE SAME FOR EVERY ONE EVEN. ALSO NOTE PRESENTLY I HAVE HARD TIME IN MY LIFE AND I WILL BE RECOVER SOON TO REPAY HOME LOAN.

7 PROPERTY WORTH OF MORE THAN 98% OF BALANCE HOME LOAN. SO IT PAS PAID IN LAST 10 YEARS SO WILL BE CLEAR SHORTLY.

SO PLS CONSIDER MY REQUEST AND GIVE ME SOME TIME TO REPAY ALL DUES AND FURTHER BALANCE HOME LOAN INSTALLMENT.

AWAITING YOU REPLY AND CONSIDER THIS MAIL REPLY TO YOUR LEGAL NOTICE SINCE I CAN NOT GO TO POST OFFICE TO SEND YO REGISTERED POST.

DEAR EXPERT PLS ADVISE WHAT IS BEST WAY TO GET SOME MORE TIME TO REPAY BALANCE HOME LOAN.

Thanks And Regds

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Nadeem Qureshi (Expert) 13 July 2013
dear querist
the notice sent by the bank.FI is under section 13(2)of Sarfaesi Act or simple demand notice?

sandeep mathur (Querist) 13 July 2013
Dear Simple demand notice no section was mention on notice.

Rajendra K Goyal (Expert) 13 July 2013
You can personally meet the concerned Bank manager with the request on above lines. You may deposit some money each month in your loan account. Send copy of the request to the Regional Manager and Head Office of the Bank.

Under the SARFESI Act Bank can auction your house in case of default.

Raj Kumar Makkad (Expert) 13 July 2013
The banker is within its right to issue such notice. You need to amicably settle the issue with personal meeting with the higher officials of the bank.

sandeep mathur (Querist) 14 July 2013
Dear all

Thanks for advise, Pls advise one more thing this notice was received in last week so should i reply of this notice 1st and then meet bank official or just meet with him without reply of notice.

Can bank will just auction the my property or 1st he will move my case in court to get order for auction and court will provide me chance to present my request in fount of court.

And in case if bank will note ready to accept any of my request and still bank force me to pay total balance outstanding so how much period i can get to arrange total outstanding as per my health as on today.

thanks and regds.

sandeep mathur (Querist) 16 July 2013
reminder

dear i am still awaiting your reply

thanks and regds

Rajendra K Goyal (Expert) 16 July 2013
You may reply the notice and afterwords meet the Manager. It does not seem to be a notice under SARAFESI Act. By this notice the property is not auctioned.

In SARFAESI Act Bank need not approach court. It can auction property.

If you are not able to arrange total payment in case Bank does not agree for time you have to start immediate arrangement of money so that you may be able to repay on or before SARFAESI notice or maximum before the auction.

sandeep mathur (Querist) 16 July 2013
Dear All

Thanks for your advise.

As per your advise pls confirm the following

1. my property cost more than 1 coror and balance is just 3 lacks so in this case also bank will auction my property.

2. If bank is not agree to provide me time and actuation the property so can he will serve further notice before auction of property or just auction the property without inform me.

3. west to west if he will auction the property so he will give me some time before auction or 1st auction the property and then inform me.

4 if bank can not move to court so can i move court to get stay and some more time to stop the bank for auction.

Thanks and Regds

Dr. Jyothi Vishwanath (Expert) 16 July 2013
Bank can go to any extent to get back its money. Go to court and get an injunction to stop the bank from auctioning the property.

Rajendra K Goyal (Expert) 16 July 2013
First confirm whether Bank has not issued notice under SARFAESI or not. If yes may go to court.

sandeep mathur (Querist) 17 July 2013
pls find below main part of notice and advise accordingly.

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THROUGH THIS NOTICE YOUR ARE HEREBY CALLED UPON TO MAKE PAYMENT DUE TILL DATE TO CLEAR OFF YOUR OUTSTANDING DUES WITHIN 7 DAYS OF RECEIPT OF THIS NOTICE. FAILING WHICH I HAVE DEFINITE INSTRUCTIONS FROM BANK TO TAKE RECOURSE TO LEGAL ACTION IN A COMPETENT COURT OF LAW FOR THE RECOVERY OF THE ENTIRE BALANCE LOAN AMOUNT DUE FROM YOU WITH INTEREST @24% PA AND IN THAT EVENT YOU SHALL BE LIABLE FOR ALL COST AND CONSEQUENCES RESULTING THERE FROM.

I WISH TO BRING TO YOUR NOTICE THAT AS PER THE NOTIFICATION ISSUED BY THE CENTRAL GOVERNMENT. OUR BANK HAS BEEN NOTIFIED AS AN APPROVED FINANCIAL INSTITUTION UNDER SECTION 2 OF THE SECULARIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT. 2002, THIS LAW HAS CONFERRED AUTHORITY ON OUR BANK TO TAKE LEGAL POSSESSION OF THE MORTGAGED PROPERTY OF A DEFAULTER OF THEIR HOUSING LOAN AFTER GIVING THE STATUTORY NOTICE IF THE PAYMENT NOT RECEIVED DURING SUCH NOTICE PERIOD. OUR CLIENT IS ALSO ENTITLED TO ATTACH THE PROPERTY MORTGAGED AND SELL THE SAME IN PUBLIC AUCTION AFTER ADVERTISING IN NEWSPAPERS ABOUT THE PROPOSED SALE OF THE HOUSE WITHOUT RECOURSE OF LEGAL PROCEEDING IN THE COURT OF LAW.
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Also advise following :

1. my property cost more than 1 coror and balance is just 3 lacks so in this case also bank will auction my property.

2. If bank is not agree to provide me time and actuation the property so can he will serve further notice before auction of property or just auction the property without inform me.

3. west to west if he will auction the property so he will give me some time before auction or 1st auction the property and then inform me.

4 if bank can not move to court so can i move court to get stay and some more time to stop the bank for auction.

Thanks and Regds

sandeep mathur (Querist) 18 July 2013
dear all awaiting your reply

Legal notice for the demand for balance payment under home loan

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