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Is the EMI amount or the tenure of the loan affected if the value of the underlying property falls ?

April 26, 2017affected EMI falls loan Property tenure underlying value

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Is the EMI amount or the tenure of the loan affected if the value of the underlying property falls ?

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Fluctuating value of the property does not affect your EMI or your home loan liability. If you fail to repay your home loan you will be damaging your credit profile and any chances of getting a loan in the future. In such a case, where you want to dispose of the property because of loss in value – you will be much better off if you prepay your home loan and then sell the property.