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Not able to pay the home loan emi

This query is : Resolved 
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(Querist)
12 August 2011 Dear All,

If I take a home loan and pay EMI regularly for 15 yrs (Period: 20yrs), but due some unknown circumstances would not be able to the rest of EMI.

Who would be the owner or whether I would be able to the sale the property?????

Or bank will sale the property and pay me the rest of money????

How the calculation would be done for not able to pay EMI????
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U S Sharma

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U S Sharma (Expert)
12 August 2011 get in touch with bank and clear your facts to them, with request to convert the balance of home loan to personal loan,

by this way EMI system will get dispensed with, and you would have option in hand to pay lump sum or delay the loan subject to interest charge
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