Filial piety has nothing to do with the above. Good financial
health after selling ?.. maybe not.
First of all, how much is your current debt? How much is your
interest on your debt ? What is your current income ?
Second, what kind of HDB are you living in ? 3 room 4 room or 5
room ?
If you sell your house and purchase another one, your
mother can no longer hold a public funded loan , you will be taking
on private bank loans with HIGHER interest rates in the long
term. And private banks are very strict in who they loan
their money to. Especially in our economy right now. The banks
cannot guarantee you will get a loan. Think about it.
You are giving up low interest rates to settle that debt.That's
a very bad move.
Always keep low interest loan and pay off the high interest
ones.
After you sell, where are you going to live in ? The rentals you
pay and the inconveniences you have to incur with landlords and
other nuances will outweigh the debt ,( Unless your debt is
astronomical.)
If you can, I suggest you try to work out a payment plan with
your creditors to pay off the debt instead of taking a easy way out
and suffer in the long term.
How old is your mom, can she get a job ?
IMO, you need some financial education, because you obviously
lack knowledge in this area.
Aiya, sista, sure he do not have a brain for finance lah, if
not, how can get into debts?? these are peoples who sponsor to the
rich to get richer, borrow and borrow, then end up paying and
paying, and the rich like us keep collecting.
My suggestion is sell house, pay off all the debts, then you and
mother go live at ECP. If get chase out by ranger, can go waterloo
street or chinatown, sit with his mother, both can get a place to
sleep and yet got peoples throw coins to collect, if met people
like me, may give $50 on the spot. Better right?
