Planning Ahead for Unexpected Events: Avoiding Home Loan Burdens

1
What Happens to a Mortgage Once the Borrower
Passes Away?
2
If the primary borrower dies, the legal heir is
responsible for repayment.
3
Tips on managing a loved one's debt after their
passing
4
Restructure The Loan
Request the lender to modify the original
repayment terms and make it affordable.
5
Opt For Rescheduling
Request for repayment tenure extension.
6
Loan Settlement
Pay a one-time lump sum of a much lower amount to
alleviate the debt burden.
7
Go For a Balance Transfer
Transfer the outstanding home loan to a new
lender with a lower interest rate.
8
Get Loan Insurance
Transfer the outstanding home loan to a new
lender with a lower interest rate.
9
Home Loan Insurance Type

• Term insurance provides a lump sum payment
  following the policyholder's death.

• Separate loan insurance is available only to
  those having a home loan.

10
Planning for the future is not just about your
dream home - it is about securing your family's
financial well-being when you are not around and
the home loan still shows an outstanding balance.
11
Thanks
Would Love to hear from you. Hero FinCorp
Limited 09, Basant Lok, Vasant Vihar, New Delhi -
110057 Tel [phone] Email
customer.care_at_herofincorp.com Website
https//www.herofincorp.com/ Know More Planning
Ahead for Unexpected Events Avoiding Home Loan
Burdens