1) What exactly is a property foreclosure? Into the layman’s terminology, the prior manager defaulted to their mortgage, and since the lending company ‘s the no. 1 lien holder-on good financed possessions, the lending company after that works out having the fresh resource due to non-percentage regarding prior debtor.

2) How much does REO mean? REO function A home Owned, and generally talking, this is simply a different sort of term to own a foreclosure. Please be aware, however, once you look for 3rd party Recognition Needed, thus the property isnt yet foreclosed, rather its being sold since the an excellent brief product sales. The property is offered for less than the mortgage harmony owed for the possessions, and therefore it will require the newest lender’s acceptance until the deal is improvements. (more…)

Kerala State Government Employees were entitled for Housing Loans under House Building Advance (HBA Scheme) till . Thereafter, the Government of Kerala directed the employees to strategy booked commercial bank / NBFCs working in the state for availing fresh or additional housing loans. The employees will continue to enjoy housing loans as per their service conditions even after shifting to banks. Employees can enjoy income tax benefits on principal and interest under section 80 C and part 24 B , as pedr the taxation norms . (more…)