Folks who are done with process please suggest, anybody with similar experience would be best,
I am primary applicant, and there is a mortgage loan i.e. plot loan in my spouse name and myself as co-applicant, and the remaining tenure for this loan is 3.5 yrs, I too have done insurance on this to make it secured loan. However, every thing is up and running , and no other liabilities or debts, and also I have enough balance as per LICO to support the family of two. I am planning to show my savings accounts statements, and one of my wife's account statement as POF. I have been planning to hide this loan details to reduce any risk. But in one of my statement I have transferred a month EMI stating remarks as 'Loan EMI for Feb17' to some account in order to pay EMI for the particular month. Now I am in dilemma whether or not to show this Loan ?? Can anyone please suggest.
Thanks,
Hello dexternmn,
I am replying to you based on my case only. I applied in 2014 when I was in USA and I had a house mortgage. I created Excel spreadsheet to show my investments and had shown mortgage as liability and other investments including Fixed deposits, Bank savings etc. as assets. I added up all amount to show that I had more than the sufficient amount required by MPNP and CIC. I did not face any issues on this. One thing to note that I sold house after I applied and came back to India in 2015. After selling house, I sent updated Excel sheet that I did not have liability. The point is - I did not hide this loan related information.
Here is my current status: I am so happy to say that I will be picking up my passport stamped with visa from VAC today after few hours.
Hope this helps!!