How to close home loan of a seller is one of the prime concern of any buyer. One of my client Ms. Jyoti Suneja finalized a property in Gurgaon. She was worried because seller had home loan from Bank A. In my opinion, buying a mortgaged property is safest bet. To close Home Loan of a seller is not that difficult task as it is perceived by the buyers. 70% of the property transactions in India are through Home Loan. In 40% of the cases buyer has to close Home Loan of a seller. In my previous post on Home Loan Process, we discussed buyer's Home Loan process. In this post, i will share Five simple ... Read More
Why Home Loan Closure Adversely Impact CIBIL Score
As i mentioned in my earlier posts that Home Loan is a secured loan and it impacts your CIBIL Score positively i.e. after availaing Home Loan, your CIBIL Score will increase because of its secured nature. Contrary to popular belief, closure of Home Loan negatively impact CIBIL Score. Let's understand why Recently i cleared my Home Loan and i was very happy about this fact but this happiness was short lived. As i mentioned in one of my article Home Loan Closure - 5 Important Points that it is very imp to check that your Home Loan account is closed by lender in CIBIL Score database after Home ... Read More
Home Loan Closure – 5 Important Points
A Home is a Biggest Asset, Where as Home Loan is Biggest Liability. According to one of research agency, Closure of Home Loan is considered to be one of the 3 Biggest Happiness in Human Life i.e. 1st Job, 1st Love and Home Loan Closure. This happiness can convert into sadness, if we don't follow some important procedures or steps while closing the Home Loan. As we know while taking Home Loan, we mortgage our property with lender and at the same all the original documents are with lender..It is important that at the time of closing Home Loan, we should take care of following points 1. No ... Read More