I had taken a home loan from the bank, Bangalore branch, nearly three years back. The loan was a joint loan; me being the applicant, and my wife being the co-applicant. The loan was taken at an interest of around 7.5%.
Unfortunately, due to personal differences between my wife, and me, my wife decided to no longer support me on the loan. The interest had gone up to 14.5%, and I could not afford to pay this much on my own.
My wife will not allow me to sell the flat. She will not take over the flat. And I cannot afford to take over the flat on my own. In such a situation, I was forced to stop my EMI payment.
I have been running behind the bank ever since, to find an amicable solution to this problem. The bank is so indifferent. All that they care about is forcing me to somehow make the payments. They are trying to use all means to get me to do this. I even informed the bank that I am willing to surrender the flat to the bank. I visited the bank to sign the required documents, but every time I go, they come up with one or more excuse to try and make me avoid this. The bank is at loss if I surrender the flat. They would like to ensure that I either remain with the loan, so that they profit from the interest amount, or delay this as long as possible so that they can benefit the maximum on the interest on the delayed amount.
Am not sure of what course of Action I can take. Any help or suggestion is most welcome.
Thanks,
- Satish.
0 comments