Hi guys, need advice on what options do I have if I wanted to stop my home loan but I could not get a buyer for the house.
Can I discuss with the bank on how to get the property auctioned off and I convert the difference (if auction price can't cover the remaining loan amount) into a personal loan to clear the amount off?

My current property is still tenanted but the rental amount is not enough to service the loan.
So I was thinking to just get rid of the property instead of keeping it and continue with the hassle.

I do realise that it was a big mistake to begin with for getting the property so do not need further "lectures" on that topic!

Thanks for the advice given guys, much appreciated.
I have had this property for the last 4 years and been serving the loan diligently with no outstanding but recently it's feeling more taxing to manage this property, from getting the tenant to upkeeping the house condition.

I have been trying to keep the momentum going and stay positive in managing the property while maintaining the value of the place and attracting good tenants.

Anyway, I think what I'm hearing the most here is for me to reach out to the bank to start discussions to see what options they have. Hopefully being a good paymaster all these years will be an advantage.

1. ~RM900

2. 4 years

3. 420k+/-

4. ~RM470k

5. None

6. Service apartment in Shah Alam