My friend took a loan from an unsecured source and got debt trapped. This was at a very high rate and it was for a flat. Is there a way where he can get a secured loan on the house and pay off the unsecured loan?
Answered on November 08, 2017
It would depend on the value of the flat, loan against property can be availed from any bank and/or financial institution and which amount can be utilised to pay off the first loan.
