*Initially the bank provides 40% to 70% of the secured loan against property value.
*They will keep the property as a collateral and than disburse the agreed amount.
*The money can be used for business expansion purposes.
*Normally all people take loan against property or mortgage loan for business expansion purpose only.
*The equated monthly installment(emi) has to be paid by the customer on a monthly basis to the bank or financial institutions.
*Business graph cannot be the same all the days and years, so there can be ups or downs in the business.
*And when the customer is unable to pay the EMI's to the financial institutions and his account is been declared as a non performing asset(NPA),than the financial institutions will file in the Indian court against securitisation and reconstruction of financial assets and enforcement of security interest act,2002(SARFAESI).
*Sarfaesi act is a law that allows Indian banks and financial institutions to sell or auction the assets/properties of credit defaulters without any intervention from the courts.
*Under Sarfaesi act any assets ie movable or immovable given as security by way of hypothecation,mortgage,or creation of a security interest in any others form except those excluded under section 31 of the act are covered under the SARFAESI Act.
*Before or after the SARFAESI, if you are looking for the settlement of mortgage loan or settlement of business loan with the bank or financial institution than we can act as a mediator and can do the settlement of mortgage loan or settlement of business loan without any hassle and can bring you out of this trap very smoothly.
*The settlement of mortgage loan or settlement of business loan is possible by paying the agreed amount of the financial institutions.
*The settlement of mortgage loan or settlement of business loan will be amicably settled by us in concurrence with the customer and the financial institutions.
