Suresh Nair is a diligent employee of a well-known construction company headquartered in Mumbai. He has been servicing a home loan for the last couple of years now, but suddenly finds himself in a dilemma, because he has had to fork out Rs 1 lakh as the admission fee of his child and settle the medical bills of his father who has recently undergone a cataract operation. His EMI is due on the 1एसटी of every month and he knows that he will not have enough money to pay it off for the month of June. The likes of Suresh, are not habitual defaulters and his case is a genuine one. Instead of panicking Nair went to his friend Nitin, who is a financial advisor by profession. Here are the things he asked Suresh to do.
Ideally, you should manage your funds in a manner that you never miss a home loan EMI, but just in case you are in some genuine trouble follow these tips and you may be able to tide over your problems sooner than you thought.