by kvmohanan » Tue Jun 08, 2010 09:18 am
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.
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.
Posted: Tue Jun 08, 2010 11:57 am Post Subject:
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...
Posted: Tue Jun 08, 2010 12:17 pm Post Subject:
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.
Posted: Tue Jun 08, 2010 12:23 pm Post Subject:
Borrower...look at your loan closing papers, I cannot imagine ANY lender allowing a property to close without a HO policy.
I have filed a claim and ICICI Lombard
Is this the lender?has appointed a surveyor also
a surveyor? for what?Add your comment