POSTED BY February 6, 2015 8:19 am COMMENTS (2)ON
Dear Sir, Provide your valuable expertise on the below query I have bought an Independent House in the year of March 2012 for 57 lakhs in which 37 lakhs has been borrowed from Bank towards Home Loan. As on Date the outstanding loan is 35 lakhs and the property cost is appreciated and can be sold at 65 lakhs.
My problem is I stay in a different city for rent paying 25000 per month, and EMI of 40000 towards the loan of independent house. I am thinking of selling the house and pay 35 lakhs towards loan and the with the rest 32 lakhs by adding some amount I want to buy a flat here I am staying currently now. so I may be saving the rent and emi as well. Please advice is this feasible decision or let me know how can I improve my financial stability without being a victim of homeloans and rent.