I think the bank will not lelong at loss but to recover the loan amount from previous owner. Your loan will be new chapter.

When lelong at loss, you still owe the bank the balance amount. It just didnt disappear away.
Next they will placed caveat on any other existing asset under name and worst case they just file suit for bankruptcy action against you

RPGT not applicable since there isnt any gain. Real Property Gain Tax is gain differential between previous SPA price and new agreed SPA price.

Try to sell it on your own by nego n lowering price before it masuk lelong

Masuk lelong adi its buyers market n the true price buyer willing to pay

Which property is this? KL area?

They will send another letter notifying you about the balance amount you still owe them and dateline to settle balance.
Failing to settle will incur charges and interest along the way which will accumulate and balloon into bigger amount.
You will need to find ways to settle the balance.
Either take another personal loan(highly doubt sufficient and cost effectiver since big amount and shorter installment period) or from family and friends.

usually bank lelong means you didn't pay the house many months. the bank reposes the property. your credit score is gone case already, cannot take loan anymore and blacklisted by the bank. then they will lelong the unit. if u owe 900k, and the lelong only sold for 800k, you still owe the bank 100k. you need  to go to the bank and talk to them about repayment plan. during all this time you can't take any new loan because credit score is basically gone case.

no tax

you can finance or pay the difference

simple

You can forget about the repayment plan if it ever offer 
It's not gonna another 30 years with housing loan interest.
Just simple maths
Based on RM100,000 / 12 = RM8,333. That one havent calculate any additional charges.
If cant handle the current payment, dont even think about the repayment offer if it ever happen.
The period is just 1-3months during the transaction period of tranferring the title from one bank to anoher bank

Yes, since no more collateral for this repayment offer.
The house already auctioned off.
Imagine for loan with collateral with 30 years repayment of low interest yet debtor not able to service, bank will not risk further.
You better off sell through agent or ownself.
Once in lelong, you are at the market's mercy.

Your property title is with Bank A.
Buyer B and Bank B will need your title to be discharged and recharge d back to them.
You cant discharge a title when there's still owing balance. Worst case  the bank will use their own reserve to pay off the balance in order to proceed with process.
That's where you will get charge for interest since it uses bank own's reserve to offset your balance owe amount

Bear in mind, seller still has to pay the agent 2-3% commission (if agent managed to find a buyer) and the lawyer fees etc. In the meantime, seller has to continue to pay the monthly house installment.

Bank A.

Bank B will release loan amount based on whatever Buyer B take.
Balance between TS and Bank A, TS need to settle by themselves.
Since Bank B already done their part, Bank A need to facilitate the process in order to complete the transaction.
This is including using own reserve to payoff the balance so the title can be discharge.
However this would incur interest for TS since it's bank own money.
Thus the your hope for repayment plan aint gonna work.
It's gonna be lump sum payment TS need to pay.

TS wont able to to bargain since there's nothing to leverage anymore as the house already auctioned off.
Under risk management, no collateral means shorter period tenure and higher interest to mitigate the risk
plus with further risk of deteriorating repayment capability.

TS, the relative wish to continue to own and stay the house? If yes AKPK is one the best alternative to nego a repayment period.
However do bear in mind, once agreed, you cant miss a single payment or else it's void.

From my understanding, it seems the house is high commitment to continue stay on since dont even mind to dispose at losses.
But beware, even own selling with losses, the problem still wont go away as the differential balance still need to pay.

a form of personal loan

just take it

you can pay in advance the principal whenever you have cash and that will reduce any interest greatly. Good to buy time.

Good strategy as well, as you no longer paying for bleeding property loans, maintenance etc.

Easy
1. No
2. Yes but nothing need to pay lo…withholding amount need to check with lawyer

Since on lelong means not able to pay, i dont think bank will still give loan anymore. Which bank will take risk?

Ofcourse he/she can try nego with bank for monthly payment, or if got other property can refinance and use the money to pay.

Else last resort is AKPK

have ur family member go to akpk? they can help to restructure the monthly loan repayment thus it will be lower. then get an agent to sell it at above lelong price, 900k maybe? so ur family member loss will be minimal. can pay it lower every month while waiting for the agent to get any potential buyer. because if the area is not hot area, it will take time, this is just to minimize the loss. hope this suggestion helps.

Still owe maintenance fee? This one need to clear off too.

hi bro,

if they really end of road, my advice is go to AKPK, let the Bank Negara / our Government to help them.

peace of mind so that they can focus and carry on with their life normally, but of coz, they will lose all loan capacity until AKPK is settled.

if they really no other option, this will be a very good option to reset their financial.

Ya, use AKPK, to buy time and space:

1. pay minimum monthly payment for the next few years,
2. wait for the property market price to come back (after2-3 years, price should goes up x%),
3. then sell it off.

???? Take what jump?
1st, What is the outstanding balance in the house loan?

The lelong prices are just indicators on the market prices. The real market price is what you get in the actual sale.

Lelong means auction. You can also sell by means of auction if you want to sell in a hurry.

Selling at a lost... it means selling at a price lower than the purchase price. It doesn't necessarily means the selling price lower than the outstanding balance. (What's the outstanding balance?)

If really cannot coup due to different financial situation now, and must sell the house; better to do it quick rather than delaying the inevitable... as interest cost will accumulate over time.

https://www.mdi.gov.my/index.php/home/faqs/...s%20been%20made.
Another perspective...  no big deal  ..being bangrupt..
Automatic discharge from bangkruptcy aftsr 3yrs if fulfilled certain conditions..

Better conserve dwindling household cash than spend ot on lawyrr fees.. instalment ... etc.. 

No ill intention here...  bangkrupt is not dearh sentence