Legal Question in Banking Law in India
Dear Sir, I have taken housing loan around 11 lacks on the basis of NRI account holder. I have paid continuously without delay up to 12th installments still remained around 10 lacks, unexpectedly return from abroad I am not able to pay installments since last three months. Can I get some time to pay due amount. The bank giving warning to lock the home. Can you advise what to do, please
1 Answer from Attorneys
28.12.2014
Dear Sir / Madam,
You should explain your situation to the Bank and lookout for a job either in India or overseas immediately. Earnestly request the Bank to defer your equated monthly instalments by a further three months if not six months, till you have settled down with a job and are in a position to begin repaying your revised EMI's regularly.
Regards,
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