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07-03-10
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#2 |
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Guess what ?
You (person who has taken)are not going to benefit from the bank's fall. Bankruptcy court would assess the existing outstanding amount (which includes your loan) to the fallen bank and would get sellers for it. A higher risker bank / financial institution would buy your loan on a discount. If you need to pay 10L the FI may buy your loan for 9L from the fallen bank. the FI would get rewarded 1L for the risk. 9L would go to the banks existing c*r*e*d*i*t*o*r*s. Hope this helps Cheers praks |
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| bank, bank bankrupt, bankrupt, happen, home, home loan, loan |
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What happen to Home loan when a bank is bankrupt
