Kiran Babu asked 7 months ago Seeking Guidance to Close a Home Loan After the Borrower's Death - My Case
Background
I am Kiran Babu, and I find myself in a complex situation involving a home loan that my brother-in-law, Kamaraj, took out from HDFC Home Loan. Here's the backstory: Kamaraj secured a home loan of approximately Rs. 25,00,000/- in 2012 or 2013. The property in question is located in Vadalur, Pondicherry. In 2015, Kamaraj married my sister, and they have a young son. Tragically, Kamaraj passed away in 2021, leaving his mother, wife, and son as the legal heirs. We informed the bank of Kamaraj's passing roughly two weeks after it happened and requested that they stop the ECS (Electronic Clearing Service) deductions accordingly. Unfortunately, the bank continued deducting payments, which added to our family's distress.
The Current Dilemma of Close a Home Loan
The current situation is far from ideal: My primary goal is to Close the Home Loan through a one-time settlement. This would mean paying off the remaining loan amount in a lump sum and, in turn, securing ownership of the property. However, HDFC Home Loan has proven uncooperative, postponing discussions for over two and a half years. To resolve this issue, I took the step of sending a legal notice to the bank. In this notice, I requested copies of the loan agreement and other relevant details. Regrettably, I have not received any response from the bank to date.The Central Concern
The primary issue I am currently facing is:
How can I effectively close the home loan and secure ownership of the house?My case highlights the challenges and complexities that can arise when dealing with a home loan after the borrower's unfortunate passing. Despite our efforts to communicate with the bank, the lack of cooperation and the absence of a response to the legal notice have made this situation even more challenging. I am actively seeking a comprehensive legal strategy that can help me resolve this issue and obtain ownership of the property.Read More
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