My friend has purchased a flat in Bangalore 2009 with home loan option of 30 Lakh. Till 2014 the emi was paid regularly and then huge amount of 10Lakh was paid to the bank. Now the outstanding loan is 21,00,000. Now my friend has lost job still trying to manage the home loan payment by taking support from friends and relatives. There are 3-4 cheques bounces and 3 emi is pending, Consecutively my friend has approached many times requesting to give some time to make the emi payment but the manager is not being supportive has asked the legal team to take action for cheque bounces and lack of 3 emi pending. They are harassing my friend to clear the emi in oneshot with is not possible at the moment. The bank has conveyed that they will put the mortage rules. My friend needs help. Kindly suggest the best way to come out of it and also help required if any lawyer in Bangalore can support us.
