Wednesday, December 06, 2006
[RealEdge] TodayOnline Forum : No way out without taking out a new loan on shared flat
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| No way out without taking out a new loan on shared flat Wednesday ? December 6, 2006 Letter from Kang Lay Beng I read Mr Leong Sze Hian's letter, "Why a need for a new loan?" (Dec 5) and would like to share my personal experience. My current Housing Board flat is registered with my husband as joint-owner. I am paying the loan instalments in cash. I approached the HDB to remove my husband as a co-owner but they said I needed to obtain a new loan from a bank. My outstanding loan is about $70,000. I believe most banks have a minimum loan quantum of $100,000. What I cannot understand is that if I am already paying for the current loan, why can't this remain the status quo? There is no way out for me. And if I divorced my husband, I will have no alternative but to sell the flat. | |
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// posted by Shajahan @ 4:19 PM 