Hello Experts,
My wife is a co-borrower in the home loan that we have taken for the house, I have been single handedly paying the EMIs since the time we bought the house in 2007. All the EMIs have been made through cheque payments. Immediatedly after taking the home loan, she made a U-turn and refused to pay any money. Incidentally, we are heading for a divorce. Her family and herself is eyeing this house as part of the setllement. They want the house in my wife's name.
I have few questions:
1. Suppose if I stop paying for EMIs. What actions will the bank take? After how much time?
2. How does it affect my CRISIL rating?
3. Will it harm my credibility to take a home loan in future even if I explain that my wife didn't pay up the money and I was increasing finding it difficult to pay the EMI?
