Dear Sir/Madam,
During 2015 Dec, We purchased a flat for Rs: 53lakhs (Includes interior works and fixed amenities)
Out of which Rs: 38lakhs loan was taken by my wife and Rs: 15lakhs loan was also taken by my wife against my parent’s property by mortgage.
My wife is the whole and sole owner of that new flat according to house document.
My parents are the document owner for the mortgaged house.
Since she was earning more, she accepted the pay both the loans and I take of household expenses was the agreement between us. Suddenly lots of disputes raised from my wife and she didn’t pay the EMI for both the loans for past 5-6 months. Even she applied for Divorce also.
Now Bank pasted a generic notice to public in the new house. My parents being old age (Sr.Citizens) bank given 2-3 weeks time to us for the full settlement of Rs: 15lakhs.
Banks says that my wife is not interested in paying both the EMI`s.
I want my parent’s house back to them.. Bank is not giving any option except asking for full settlement.
How to rescue the mortgage property? Please advice and help…
