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?
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
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.
it is a normal HDB loan payable within 30 years.
I once read HDB will absorb the payment, i not sure though.
Thanks.
my condolence
any insurance policy taken to cover the housing loan?
-- no link --
okay ![]()