Need A Financial Product Forums Loans Can I repay loan by asking bank to sell house

This topic contains 1 reply, has 2 voices, and was last updated by  Yogesh Arora 3 years, 2 months ago.

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    Yogesh Arora

    In 2009, I purchased house for Rs. 52 lakhs. I paid down payment of Rs. 12 lakhs from my pocket and remaining Rs. 40 lakhs by arranging loan from Bank of Baroda. In between, I lost job and outstanding debt is Rs. 35 lakhs. Value of house is Rs. 75 lakhs. Is it possible that I can request the bank to sell my house in an auction, take the auction charges and outstanding loan amount and return the balance to me?


    Bank will ask you to arrange buyer and you will have to repay your entire loan before selling house.

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