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 Posted: Tue Jun 08, 2010 9:18 am Post subject: I had bought a house in 2001 by taking a home loan from PNB |
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I had bought a house in 2001 by taking a home loan from PNB for 13 years. Later it was transfered to ICICI as the interest % was more (13%) in PNB and 9.25% only in ICICI. But now I am being charged 14.5% interest. The EMI is still going on
My whole house along with all my personnal belonging got burnt in a devastating fire which occured in the last week of April,10.I am being told that the Bank insures their property;so I can make a claim for renovation. Is it true? please clarify. |
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kvmohanan
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| Posted: Tue Jun 08, 2010 11:57 am Post subject: |
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I'm sorry but I'm confused somewhat by your post.
If you purchased the home, you should've also purchased a home owners policy...lenders would require this, and you most likely paid your first year premium at closing.
Have you filed a claim with your HO carrier? If not why not? This has been two months...
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Lori
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| Posted: Tue Jun 08, 2010 12:17 pm Post subject: |
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| I have filed a claim and ICICI Lombard has appointed a surveyor also. But at the same time ICICI Bank is saying that the house is not insured. I do not remember paying any premium. Pase let me know whether it is the bank or borrower who does the inssurance. |
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kvmohanan
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| Posted: Tue Jun 08, 2010 12:23 pm Post subject: |
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Borrower...look at your loan closing papers, I cannot imagine ANY lender allowing a property to close without a HO policy.
| Quote: | | I have filed a claim and ICICI Lombard |
Is this the lender? | Quote: | | has appointed a surveyor also |
a surveyor? for what?
_________________
"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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Joined: 10 Sep 2007
Posts: 8173
Location: Missouri
287.90 Dollars($)
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