Taking home loan or not

POSTED BY RD ON July 29, 2012 10:49 am COMMENTS (2)

I am working with IT company and planning to take Home Loan but really confused because of current scenario in IT sector which is not very encouraging.
Right now i am on bench (sitting idle). I tried to collect information abt my company performance(that how its doing) but could not get any clear idea.
Pl suggest me what should i do. Should i postpone taking home loan for now and wait for sometime (2-3 months).

2 replies on this article “Taking home loan or not”

  1. Dear Rd, please provide more details as rightly demanded by dear Viswanath.

    Thanks

    Ashal

  2. Viswanath says:

    Hi RD,
    I am not a financial person, but from my instinct I wish to reply to your question.
    If you do not foresee a plan of growth for the company or feeling insecure, start looking around for better options.
    Have you already booked your home?
    How much of contribution you have made/planning to make?
    What % is that with the value of your property.
    Do you have any back up to cover the full amount of your property?

    Can you stick in this present position for next one year and see if there is any improvement in your position.

    If you are scared, I advice, not take the loan. Wait for some time to settle and then take it.

    Please post full information about you and family size when posting questions, because being a non-financial person(myself), it makes me think, how big is your family, what is your earnings and expenditure, any present commitments or any other source of income..and so on…

    I suggest you redraft your question, so experts can analyse the full details rather than a raw reply.

    Thanks

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