Security for the loan
is the first equitable mortgage of the housing unit to be financed normally by way of
deposit of title deeds, and or such other collateral security as may be necessary . Title
of the property should be clear marketable & free from encumbrance. In all cases
the applicant will be required to provide guarantee of one individual acceptable to HUDCO
NIWAS. Lien on borrower's other assets in India may also be required
Collateral or Interim security could be assignment to HUDCO of life insurance policies the
surrender value of which at least equal to the loan amount, and such other investments
that are acceptable to HUDCO such as NSC’s, UTI Units etc.
