Job Loss and Home Loan EMI: Your Home is Safe, Here's How to Manage

• Losing a job can cause anxiety about defaulting on home loan EMIs, but legal and banking provisions exist to help.
• Immediately contact your bank if you anticipate difficulty paying EMIs; they may offer deferment or loan restructuring.
• Home Loan Protection Plans (HLPP) with 'involuntary loss of employment' clauses can cover EMIs for a few months.
• Utilize PF (up to 75% after one month of unemployment) and other investments like MFs or FDs to cover EMIs, prioritizing your home.
• Banks cannot immediately seize your home; a loan becomes NPA after three missed EMIs, followed by a 60-day notice period.

Why It Matters: Communicate with your bank, explore available options, and utilize investments to protect your home during job loss.