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Loan Disbursement in 7x Sectors after Farmers Agitation

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Loan Disbursement in 7x Sectors after Farmers Agitation

Last updated: May 26 2011
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  • #11

    #11

    Re : Loan Disbursement in 7x Sectors after Farmers Agitation

    Suddenly all the so called legal experts disappeared.

    It is a very valid question raised by Alok. Most of us proceed to buy a house on the promise of Bank Loan.

    Suddenly if the bank stop payment of loan amount at the middle or the worst, they stop disbursement at the middle and then ask to return back already disbursed amount.

    I am certain that bank's legal expert already crafted their terms and condition accordingly ... and we blindly signed all those.

    Anyway, signing a biased agreement does not mean anything as that can be challenged to any court at any point of time.

    Bank approved and disbursed a loan amount only after extensive due dilligence and both the parties technically agreed to share any future and unknown risk equally.

    What option a common man has in this kind of situation?

    Any expert want to share please?

    Comment

    • #12

      #12

      Re : Loan Disbursement in 7x Sectors after Farmers Agitation

      Most of us proceed to buy a house on the promise of Bank Loan.

      agar paise nahi hai to fir makaan lene ke kyu soche bhai logo ?

      future earnings - ha ha ha ha - look at what happened to Bear Sterns and AIG by overleveraging themselves.

      jitni chaadar ho utna hai pair failana chahiye

      rohit

      Comment

      • #13

        #13

        Re : Loan Disbursement in 7x Sectors after Farmers Agitation

        I have said several times that, signing an agreement doesn't mean that you have signed away your legal rights. every agreement has to conform to law of the land and nobody can enforce an illegal agreement or illegal parts of agreement. so the question becomes what are the prevailing laws.

        Another issue is, that bank disbursement or even approval of loan is used as a benchmark by lots of people that project is OK to go with, as bank would have done all the paper verification before disbursing this money. now if bank says, we were wrong in approving this project then it is their fault too.

        Now several people will loose their money as they trusted bank's judgement. so they can even claim that they have lost money because of bank's incompetence in doing verification. Now I am not saying that they will be able to get their losses from bank, but at the least bank will have to share in their misfortunes.

        In any case, any bank reneging on its commitments after taking processing fees and checking all documents will destroy its reputation in the market.
        Originally posted by ondabhai View Post
        Suddenly all the so called legal experts disappeared.

        It is a very valid question raised by Alok. Most of us proceed to buy a house on the promise of Bank Loan.

        Suddenly if the bank stop payment of loan amount at the middle or the worst, they stop disbursement at the middle and then ask to return back already disbursed amount.

        I am certain that bank's legal expert already crafted their terms and condition accordingly ... and we blindly signed all those.

        Anyway, signing a biased agreement does not mean anything as that can be challenged to any court at any point of time.

        Bank approved and disbursed a loan amount only after extensive due dilligence and both the parties technically agreed to share any future and unknown risk equally.

        What option a common man has in this kind of situation?

        Any expert want to share please?

        Comment

        • #14

          #14

          Re : Loan Disbursement in 7x Sectors after Farmers Agitation

          Originally posted by ondabhai View Post
          Suddenly all the so called legal experts disappeared.

          It is a very valid question raised by Alok. Most of us proceed to buy a house on the promise of Bank Loan.

          Suddenly if the bank stop payment of loan amount at the middle or the worst, they stop disbursement at the middle and then ask to return back already disbursed amount.

          I am certain that bank's legal expert already crafted their terms and condition accordingly ... and we blindly signed all those.

          Anyway, signing a biased agreement does not mean anything as that can be challenged to any court at any point of time.

          Bank approved and disbursed a loan amount only after extensive due dilligence and both the parties technically agreed to share any future and unknown risk equally.

          What option a common man has in this kind of situation?

          Any expert want to share please?
          Bank offers loans based on individual salary and property and in case if he founds any issue in either of these he has right to hold disbursement. The same can not be challenged in court as well.

          Comment

          • #15

            #15

            Re : Loan Disbursement in 7x Sectors after Farmers Agitation

            who is talking about over-leveraging. or is it bad to even leverage. you claim to be a stock market expert, so you must know that it is necessary to leverage, if you want to make any kind of money in stock market. Bear stern doesn't mean anything as their leverage ratio was 34. I don't think anybody is even crossing a leverage ratio of 2 in taking housing loan.

            if you are going to claim that you are an expert in something, at least put out relevant examples.
            Originally posted by rohit_warren View Post
            Most of us proceed to buy a house on the promise of Bank Loan.

            agar paise nahi hai to fir makaan lene ke kyu soche bhai logo ?

            future earnings - ha ha ha ha - look at what happened to Bear Sterns and AIG by overleveraging themselves.

            jitni chaadar ho utna hai pair failana chahiye

            rohit
            Last edited May 26 2011, 01:31 PM.

            Comment

            • #16

              #16

              Re : Loan Disbursement in 7x Sectors after Farmers Agitation

              Originally posted by AryanKB View Post
              Bank offers loans based on individual salary and property and in case if he founds any issue in either of these he has right to hold disbursement. The same can not be challenged in court as well.
              Rightly said, bank is himself doing a business and not doing any type of charity. In case any issue raised either from individual side or from property side then finally bank may also suffer.

              Comment

              • #17

                #17

                Re : Loan Disbursement in 7x Sectors after Farmers Agitation

                that is true, nobody is denying that bank can reject any applicant for any reason they see fit.
                But point is, can bank stop disbursement after giving out first installment. as they have disbursed first installment they have checked all the papers and are satisfied with buyer's profile.
                Originally posted by AryanKB View Post
                Bank offers loans based on individual salary and property and in case if he founds any issue in either of these he has right to hold disbursement. The same can not be challenged in court as well.

                Comment

                • #18

                  #18

                  Re : Loan Disbursement in 7x Sectors after Farmers Agitation

                  Originally posted by rohit_warren View Post
                  Most of us proceed to buy a house on the promise of Bank Loan.

                  agar paise nahi hai to fir makaan lene ke kyu soche bhai logo ?

                  future earnings - ha ha ha ha - look at what happened to Bear Sterns and AIG by overleveraging themselves.

                  jitni chaadar ho utna hai pair failana chahiye

                  rohit
                  Unfortunately not everyone is rich like Warren Buffet or want to FAKE liKe Warren Buffet.

                  Comment

                  • #19

                    #19

                    Re : Loan Disbursement in 7x Sectors after Farmers Agitation

                    Originally posted by ondabhai View Post
                    Unfortunately not everyone is rich like Warren Buffet or want to FAKE liKe Warren Buffet.
                    arre bhai,

                    I have written so many times about my style of buying in RE - I hate loans - choti hogi property magar apni to hogi.

                    This is the way I have made money till date - ofcourse I go for home loans only after the property has appreciated by the amount which is required to for balance payment - this means again zero leverage - at the max I can loose the appreciation which is fine

                    magar pledging my 20 years to any bank - na baba na -

                    rohit


                    waise bhi garibon ko free market mai property khareedne ka adhikaar nahi hai - unke liye EWS ke schemes hoti hai

                    Comment

                    • #20

                      #20

                      Re : Loan Disbursement in 7x Sectors after Farmers Agitation

                      Originally posted by alokgarg View Post
                      I have said several times that, signing an agreement doesn't mean that you have signed away your legal rights. every agreement has to conform to law of the land and nobody can enforce an illegal agreement or illegal parts of agreement. so the question becomes what are the prevailing laws.
                      Alokbhai, there is no second thought that any agreement, signed or not can be challenged to court if one of the party feels that the terms are not equally fair to one of the party. Now the onus is to that party to prove in court that the terms are not equally fair to him/her.

                      The point is, bank is doing a business at a fee and hence any future risk must be equally shared between the two parties. One party can not walkaway when he/she feels that he is in a perceived loosing end... then why there is complex terms for pre closure and early closure from consumer side.

                      Comment

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