I had taken a housing loan from Mahanagar Co-operative bank in 2006 and now have closed the loan by making full and final payment to the bank , but now the bank is saying that the original house documents cannot be returned as I had stood guarantor for a personal loan to another person in another branch and that loan has a outstanding amount of 3 lacs.
My question is:
- Does the bank have the right to keep the orginal housing loan documents with them even if the loan is completed. ?
- Can the housing loan document be held up by the bank if the other person fails to repay his personal loan.
- If the other person fails to repay his personal loan for which I am one of the guarantor. how can I be held responsible or what would be my liability.
- Can I take a legal help and get my document released from the Bank.
Expecting a favouribel respone from the team
