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Hi Gurus, recently my friend bought a resale HDB flat. But unfortunately, he lost his job and he is in a situation of being unable to pay his monthly bank loan installments. He is trying for a new job, however that will take its own time. In the worst case, what are the options available for him? Can he sell back HDB or can he rent his flat until he gets another job?
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1 Answer

Mike Lim
Replied
Afternoon Mahesh,

Since your friend have taken a bank loan, the unit is considered as mortgaged to the bank. HDB will only be involved in such case if HDB loan have being utilise for the mortgage. Alternatively, he can take Steven's advise to rent out a room or two to obtain the required, so as to pay the bank on the monthly installment.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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