This article is nothing new. Any educated person in the line of infrastructure knows this concept. It is not only applicable for petty sums like a few lakhs in home loans but is also applicable for huge sums in thousands of crores required in infrastructure projects. But I think the article is ok for dumb witted people who cannot think beyond the next weekend.
Re: Nothing new
by Jomster Monster on Jul 05, 2011 03:54 PM
Your argument is so dimwitted my friend. You stated yourself in the beginning that people in the line of infrastructure know this and then you say towards the end that dim witted people who cannot think for themselves need this article.
Kindly refrain from making negative comments when the situation does not clearly warrant it.
Re: Nothing new
by Anil Gupta on Jul 10, 2011 12:54 PM
Hi Sharib, Thanks for writing in. You are right that anybody in the infrastructure line would know about it. But there are people in other fields who take loans and do NOT know about this margin money concept. This article would help them to plan for this money in advance.
Re: Rediff it seems has got to know about this just now
by Anil Gupta on Jul 10, 2011 12:51 PM
Hi Sumit, Nice to know that you were told about this concept and did not face any surprises. But this is not the case with 905 of loan borrowers. They only get to know about it once their payment is due and at that last moment, it gets difficult to arrange money.
Nothing wrong in it. For banks, its not about house, its about money and they will always try to maintain the percentage or even if they ask the buyer to pay full first and only then the bank will disburse the funds from its side is also ok. Afterall it has to secure its money.
Re: Nothing wrong in it
by Anil Gupta on Jul 10, 2011 12:50 PM
Yes..I agree with you Ashish. Banks are doing business and they only care about their profit as they are selling a product called 'Loan'.
Re: Nothing wrong in it
by Arnab Sur on Jun 30, 2011 04:43 PM
It has nothing to do with wrong or right. Banks disburse loans as per RBI guidelines. If you consider security then a Borrower is in a worse position - as per Loan Agreement- * Your House / Property is Mortgaged to Bank * Being a defaulter of loan you can not access your Fixed Deposits & PF. The bank can sell your property to recover the loan. * You have to repay to whole loan in any case ... even if the builder of the project is a fraud and don't build the building eventually.
