I took out a secure loan (on my landed property) for my relative
and he has defaulted on the repayment. He has disappeared and there
is no way I could contact him. The onus is now on me to repay the
loan which I cannot afford to do so.
So now that I have default 3 months on the repayment, what can the
bank do? I understand they can reprocess my property but what about
my other asset like personal belonging and stuffs like that? Will
they reprocess them too or just the house alone?