- This topic has 8 replies, 5 voices, and was last updated 1 year, 2 months ago by
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SHello,
My Dad decided to buyout a flat on which a bank was about to confiscate, my dad paid 8 plus lakhs to hold the banks confiscation in 2020,before lockdown. There wasn’t any payment done and now before march 2025 end my mom had to loan out a policy and put gold on mortgage, to finish paying off the banks loan so that it would not be confiscated.
Recap – 8Lakhs spent, now in debt of 15-16 lakhs total down for 24-25 lakhs and interest on 16lakhs per month.
But when paying off the banks complete loan my dad didn’t get in writing that the person whose flat was on loan that after paying off the debt he will get out of his house, before the payment he was begging to pay off the loan in order to avoid bank seizing the flat. Now he wont answer any calls, not even his wife and his son.
Police case and all won’t be advantage, this guy already has done fraud with someone other of 30 lakhs, and he has also bounced the check of 8 lakh rs.
Any advice that can be helpful?
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MSo you mean, someone was not able to clear the bank loan,his flat was about to get confiscated by the bank and your dad paid off the loan on that person’s behalf…
So while doing that are there any legal papers signed with proper agreement..
If the loan is paid off by your father to the bank,then why the property papers not with your father
Nothing is clear from what you wrote..
Don’t tell me that your father has just paid the bank’s loan on behalf of that other person without entering into any legal agreement.
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SYes,the last loan payment of 13 lakhs plus,i said my father did not get in writing that after clearing banks loan he will get out of the house or something along the terms,thats why we are in a much deeper problem, if there was writing he would have been thrown out in legal way. The documents are not the problem,he is still the owner of the house and isn’t meeting to change the deeds
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