Is it possible to transfer your parents' home loan to your name?
Pankaj Gadgil, CEO of Aditya Birla Housing Finance, explains that while children can take over their parents' home loans, it is not a direct or automatic process. You must secure formal permission from the bank to take on the debt. Gadgil noted that the lender will need to evaluate the new borrower's financial standing, including their credit history, age, income consistency, ability to repay, and all relevant property paperwork.
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