I have a home loan from SBI which is near 20 lakhs.
It was a joint home loan with my wife. We both are working. 2 years back my wife put false cases against me of domestic violence and 498a , which are running and I am confident of winning them soon. Since then we are living seperately.
After house possession she gave the house on rent and started collecting rent. I refused to pay half EMI as she is collecting rent and well educated. I was outside India, so in meantime she went bank and changed email id and mobile number in bank. After that she withdrew 6 lakhs from home loan account.
Now she has refused to pay EMI and i also refused to pay it.
Bank has sent me a notice that under sarfaesi act and also threatning me of publishing in paper as Willful defaulter. I told them cases are going on in court and i am in no position to pay the EMI as i am also giving maintenance to my kid after court order.
What all actions can bank take against me --- I do not want to become willful defaulter, I am ready to give in writing to bank that they can auction my house to recover their dues. House is worth more than 70 lakhs.