What happens when the bank sends you a
notice about not paying them their EMI.
What happens when the phone is ringing
every day and the bank is threatening to
foreclose your home, because you are not
paying your home loan EMI on time.
Business is business but it is also a fact that
the bank stands to lose a huge chunk of
money if your home is seized.
It may happen that your expenses that you
maintain to keep it under check might be
extended to be spent on other account. All of
a suuden now you find yourself struggling to
catch up on the rest of your bills.
If you find that you are not in a position to
come out of the trouble, the bank would be
forced to auction your house and cover their
loans given to you. PAY ATTENTION... this
When your bank puts your house up for
auction, they will generally only realize 35 to
40 cents on the dollar for your home.
Tax Benefit : Lesson for connoisuers
One would have to agree it, even if he is a
layman, the tax benefits increase with the
the passage of the time,and cost of the
property. None of the real estate owners
have a cost segregation study performed on
their investment. Cost segregation study
(CSS) is an analysis done on a property in
order to evaluate the total cost or value of a
building on a property. Study of the CSS
rarely include an analysis of any actual land
value, or the contents of the building, such as
fixtures, furniture, and equipment.
Source: NIMMA BENGALURU
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