Loans And Mortgages To Be Cancelled

By Angela Xu | July 13, 2009, Monday |

Print Edition

BANKS and the city's housing fund management center have agreed to terminate the loan and mortgage contracts with owners in the toppled Lotus Riverside building ahead of schedule.

The banks agreed the developer would pay the principal and the loan interest back to the banks after contract termination, with the agreement of the property owners.

Meanwhile, the banks urged buyers to contact them over loan contract termination and loan payment to avoid the credit system automatically registering a bad record.

Those who take out loans are obliged to pay the principal and interest until contracts are cancelled.

Meanwhile, buyers are to select a real estate evaluation institution to assess the market value of their apartments by the end of this month.

Metro

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Loans And Mortgages To Be Cancelled

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