Please advise me its urgent. I bought a flat in the year 2018 and took a housing loan. The EMI of the flat is Rs. 32000/- per month. I continously kept on paying EMIs since then. Only 2 EMIs of Rs. 32000 each could not be paid due to finanacial problem. Now the bank employees are saying me that if i fail to pay one more EMI then they takeover my flat and seal it.
My question is that this time i am undergoing financial problems if i do not pay for further 3 months or if i pay Rs.20,000/- per month, i mean lesser EMI, will the bank throw me out of my flat and seal it.
Please tell me what is the procedure and what should i do.