This is a Nightmare for an middle classes families who purchased flat/house past 3-4 years back when there was an NDA goverment at centre ruling and the bank interest rates were quite favourable for middle classed to own there dream houses. most of the borrowers opted for floating rates of interest during that period which has became a Nightmare suddenly due to the sharp increase in home lending rates. now the politicians will enjoy the robbed money by earning good interest rates are there Fixed deposits. atlast poor & middle class has been robbed in day light in this democratic country. UPA Goverment luring public...2 more years to burden this government..indian public waiting for 2 more years to sack this govt. and to come out of this trap ...those who are paying EMI's from past 4 years to bankers, as per the current increased rate of interest they haven't paid up a single extra amount on there prinicipal loan amount. if this rates increase drama continues then most of the public will sellout there properties to get out from this trap. in a few month's will see how the real estate market will get fall & also banks turnover on home loans for sure....UPA..Manmohan...chidambaram...luring common MAN
RE:A Nightmare for middle Class Loaner
by Tejinder Singh on Apr 09, 2007 11:37 AM Permalink
The worst part is that even if the interest rates are reduced by any future regime, these banks are not going to pass it on to the customers.
RE:A Nightmare for middle Class Loaner
by Abhaya Kumar Naik on Apr 09, 2007 11:20 AM Permalink
You are true. It is going to happen. Pl kick this UPA govt out of country and along with their allies. It is a major worry amoung salary & middle class people like us. These politicians are enjoying like any thing.
RE:A Nightmare for middle Class Loaner
by raghava hn on Apr 09, 2007 11:29 AM Permalink
As some news report said, the only class to benefit from this are NRIs, but hopefully atleast inflation comes down.
