Housing loan issue

• blowfish

  24 Dec 10, 13:16

  Hi my mum pass away recently and the housing loan was co pay with my dad and mum.

  So my mum loan will be all payable by my dad?

• kenn3th

  24 Dec 10, 13:19

  sorry to hear about that  from what I understand depending on the insurance your parents had, there's a kind of insurance where by due to the demise of a loan payee, it will be fully covered and fully paid.

  Edit: it's called  Insurance for house mortgage

  read more about the discussions about it here

  http://www.myhometown.sg/Forum/tabid/84/aff/29/aft/35611/afv/topic/afpg/3/Default.aspx

• 4sg

  24 Dec 10, 13:29

  Allow me to add my two cents worth.

  I think it also depends on whether the loan is a private (bank) loan or a HDB loan.
  
  Private banking loan has its own set of rules and HDB loan has its own set of rules.

  TS may want to ask your dad which loan your parents took and enquire further from there.

• blowfish

  24 Dec 10, 13:36

  it is a normal HDB loan payable within 30 years.

  I once read HDB will absorb the payment, i not sure though.

  Thanks.

• seyKai

  24 Dec 10, 13:40

  my condolence

  any insurance policy taken to cover the housing loan? 

• troublemaker2005

  24 Dec 10, 13:52

  -- no link --

  okay