Housing loan issue

blowfish SG

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 SG

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 SG

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 SG

it is a normal HDB loan payable within 30 years.

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

Thanks.

seyKai SG

my condolence

any insurance policy taken to cover the housing loan?

troublemaker2005 SG

-- no link --

okay