Asked by Anonymous
Hello Ladies and Gentlemen,
I'm in a hard and confusing situation now that I hope the Gurus can advise on.
I will be turning 35 in two years and hoping to get my own 2-room HDB in 2020.
Currently, the house I'm staying is a joint ownership with my mother. It's a 3A flat in Tampines St 91 (with valuation of probably less than 300k?)
As per my CPF, the amount used as of now is 45k and accrued interest of 5k.
As for my mother, the net amount used is 105k with about 60k of accrued interest.
Currently, the outstanding loan with HDB is 90k.
Understand that if we sell the house, we will need to return back the money into CPF with the accrued interest.
In my case now, after paying off the outstanding loan, the amount to return to CPF is definitely not enough.
Will we be able to proceed to sell? Also, what are the other charges in cash or CPF that we have to consider when selling the HDB?
I'm in a hard and confusing situation now that I hope the Gurus can advise on.
I will be turning 35 in two years and hoping to get my own 2-room HDB in 2020.
Currently, the house I'm staying is a joint ownership with my mother. It's a 3A flat in Tampines St 91 (with valuation of probably less than 300k?)
As per my CPF, the amount used as of now is 45k and accrued interest of 5k.
As for my mother, the net amount used is 105k with about 60k of accrued interest.
Currently, the outstanding loan with HDB is 90k.
Understand that if we sell the house, we will need to return back the money into CPF with the accrued interest.
In my case now, after paying off the outstanding loan, the amount to return to CPF is definitely not enough.
Will we be able to proceed to sell? Also, what are the other charges in cash or CPF that we have to consider when selling the HDB?
1056 views
