Date: 2008-08-05 15:24:36

Query : Dear Sir
3 years back I had taken a loan for purchasing a flat. The balance principal amount as on date is approx. Rs.400000/-. This flat I have given on rent. I am living in another house which I want to renovate for which I will need a loan of @ 700000/-. Can I take a single loan repay existing loan on my first flat & renovate my second house. please guide how to make it possible.

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Date: 2008-08-07 17:40:46

Message:

Yes, you could try taking a fresh loan or else you can get your property revaluated , which would have appreciated by now.And then take a fresh loan on it.You could approach your existing bankers for the same.

Please revert with any clarifications on the above answer.

Regards,

Amitoj Sethi

www.deal4loans.com
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City : Mumbai
Employment Status : Salaried
Annual Income : 600000
Type of Loan Running : Yes
Loan Running : hl,
EMI Amount : 7000
Tenure : 125
ROI Loan : Yes
EMI Paid : more than 12 months
Credit Card Holder : Yes
Amount Due : 30000
Loan Running on Credit Card : No
Residential Status : owned
Vehicle Owned :