Hope someone can help me before I speak to the bank

[Allota]

Can someone help me? I'm not familiar with housing loans as I have yet to consider buying one. My question is, if I inform the bank that my dad has passed away, will they revoke the loan since my mom is not working? I understand that housing loans are given based on several criteria like income.

Can someone help me? I'm not familiar with housing loans as I have yet to consider buying one.

 

[looneytan]

If your dad bought insurance from the bank when he applied for housing loan all of you should be free by now

 

[shctaw]

Some basic questions before people can help you....
Buying first home?
HDB or Private?
If HDB.... then 1 room? 2 room? 3 rm?
You have CPF?
You dad has cash left for you?
Are you old enough to buy?
You income level?

If they already sign your loan they cannot revoke; but they can seize your asset when you cannot pay your instalment.

Can someone help me? I'm not familiar with housing loans as I have yet to consider buying one. My question is, if I inform the bank that my dad has passed away, will they revoke the loan since my mom is not working? I understand that housing loans are given based on several criteria like income.

Can someone help me? I'm not familiar with housing loans as I have yet to consider buying one.

 

[Raiders]

If your dad bought insurance from the bank when he applied for housing loan all of you should be free by now

That's what happened to my cousin. Dad bought the house with 50% cash and passed away one year later. My cousin suddenly has 400k spare cash waiting for him :o

 

[songsongpunggol]

400k cannot buy back all the good times they have with their dad..

 

[tonychat]

But hdb flat is not freehold..you pay a rent on that.

 

[Raiders]

400k cannot buy back all the good times they have with their dad..

His father left him when he was 7 and only appear again when he was 28. Not a bad deal. My lao bei left me nothing

 

[looneytan]

His father left him when he was 7 and only appear again when he was 28. Not a bad deal. My lao bei left me nothing

choose a wrong dad huh?

 

[Microsoft]

Not sure but 13 yrs ago oredi compulsory to buy insurance...moi bought de higher premium 1...any 1 of hse owner up lorry...insurance pay full outstanding amt. Insurance pay out in cash...so its up to us whether to clear the loan with de payout or invest de moni some where else...

Suggest chiu go find out de insurance part first...HDB shd hab de record...

 

[50000]

Not sure but 13 yrs ago oredi compulsory to buy insurance...moi bought de higher premium 1...any 1 of hse owner up lorry...insurance pay full outstanding amt. ...

Compulsory? is it for HDB only or for all properties including private?

 

[eErotica69]

But hdb flat is not freehold..you pay a rent on that.

So are many condos, you chump.

 

[Cestbon]

Can someone help me? I'm not familiar with housing loans as I have yet to consider buying one. My question is, if I inform the bank that my dad has passed away, will they revoke the loan since my mom is not working? I understand that housing loans are given based on several criteria like income.

Can someone help me? I'm not familiar with housing loans as I have yet to consider buying one.

Normally people will buy insurance only stupid person dont buy. Create problem for family member.

If your dad bought insurance from the bank when he applied for housing loan all of you should be free by now

 

[Microsoft]

Compulsory? is it for HDB only or for all properties including private?

Private property moi not sure...was told compulsory to get an insurance plan last time when moi bought de flat...either get it frm hdb...or outside ins co...end up getting frm Prudential...

 

[Microsoft]

Normally people will buy insurance only stupid person dont buy. Create problem for family member.

Seriously useful when disaster strike...but oso quite tough for young couple...moi pay something like 20+k for a 4xxk flat...

 

[scroobal]

TS

Read this
http://www.hdb.gov.sg/fi10/fi10326p.nsf/w/ChgOwnerDemiseSole?OpenDocument

Make an appointment with HDB if you want more clarity. If you cannot make payment etc, tell HDB. Go and see MP if you facing difficulty. This is one good thing about public housing.

 

[jw5]

TS

Read this
http://www.hdb.gov.sg/fi10/fi10326p.nsf/w/ChgOwnerDemiseSole?OpenDocument

Make an appointment with HDB if you want more clarity. If you cannot make payment etc, tell HDB. Go and see MP if you facing difficulty. This is one good thing about public housing.

Condescending bastard who once claimed that HDB is not for you, he will know how to contact HDB and see his MP, you fucker.
If you can't provide useful information, then shut the fuck up.

 

[sunlee2002]

Hey, sorry for your loss… did your dad take out any insurance policies? I think a term life insurance would be able to cover his repayments. Or maybe you can check his housing loan? Nowadays home loan do come packaged with insurance.

 

[I_Hate_Pappies]

Mortgage Insurance is compulsory if CPF monies are utilised. Cash payment, insurance is not necessary if i m not wrong.