Real Estate Defaulting on a home loan and how to avoid it Updated : June 28, 2018 01:03 PM IST Home loans are paid in instalments which are commonly known as Equated Monthly Instalments (EMI). These are fixed amount which is expected to be paid by the borrower to the bank every month as a part of loan repayment. A bank considers a home loan to be in default when the borrower fails to make a payment and is behind by 90 days. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.