Archive · 18 Aug 2025
Reddit User Warns of Home Loan Scam
Some builders offer a deal where you don't pay your home loan EMIs until the house is finished.
However, a lot of people have gotten into trouble with these schemes.
The builder might stop building or disappear, but you still have to pay the loan.
It's like paying rent and a loan at the same time for a home you don't even have!
If you miss a payment, your credit score suffers.
People online are advising others to be careful and not trust builders blindly.
A Reddit user warned against 'No EMI till possession' home loan schemes due to potential scams.
The scheme involves builders covering pre-EMIs for a set period while construction occurs.
Many homebuyers are paying EMIs for stalled projects, with builders failing to complete them.
Homebuyers are responsible for the loan, even if the project is not completed.
Netizens shared their negative experiences with similar schemes and builders.
- Who
- Homebuyers, builders, and social media users.
- What
- A warning about 'No EMI till possession' home loan schemes and the risks associated with them.
- When
- The article discusses current issues, referencing experiences and advice from a Reddit user.
- Where
- The issue is discussed in the context of the Indian real estate market.
- Why
- To alert potential homebuyers about the risks of certain home loan schemes and encourage caution.
Homebuyer
Builder
Risk vs. Reward
Homebuyer
Attracted by the 'No EMI' offer.
Builder
Risk of paying for uncompleted projects.
Trust
Homebuyer
Reliance on builder's promises.
Builder
Builders failing to fulfill commitments.
- Scheme Name
- 'No EMI till possession'
- Upfront Payment
- 10%
- Loan Percentage
- 80%
- Affected Homebuyers
- 4.3 Lakh
- Consequence
- Paying EMIs for stalled projects
