Asked by Anonymous
Hi all, I currently own a HDB flat for which I am still servicing a mortgage loan from HDB. I have paid almost all of it and left with something like 15k. 2 years ago, I applied for a larger flat the BTO scheme and successfully got one. I also made the 10% downpayment.
At that point in time, when HDB requested me to apply for a loan, I declined as I wanted to sell off my current flat and use the proceeds to fully settle my new flat.
Now, the keys are ready for collection. However, HDB told me that I will need to sell off my current flat before getting the keys to my new flat. As the market is bad, I cannot wait forever to sell my flat. For obvious reasons, I need to move into my new place end of the year.
What are the options open to me, if I still cannot sell my current flat within a month or two.
At that point in time, when HDB requested me to apply for a loan, I declined as I wanted to sell off my current flat and use the proceeds to fully settle my new flat.
Now, the keys are ready for collection. However, HDB told me that I will need to sell off my current flat before getting the keys to my new flat. As the market is bad, I cannot wait forever to sell my flat. For obvious reasons, I need to move into my new place end of the year.
What are the options open to me, if I still cannot sell my current flat within a month or two.
675 views