Selling a mortgaged property

by Paul Joseph on January 6, 2013 · 0 comments

Home loan EMIs are a major component of a household’s monthly outflow. In a climate of high prices and stagnant income, there are situations when the financial burden becomes unbearable and the home buyer stares at the prospect of defaulting on the loan, or selling the property and relieving himself of the burden. The most common situations leading to such a decision are: Delayed possession: The home buyer has to bear the extra cost of paying the rent for the existing house in addition to the EMI burden. Change in Interest rate: A slight increment in the interest rate pinches the household budget. In such a situation, the buyer either

[via India Properties – Real Estate India – Indian Property News Site]

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