Asked by Madam Ng
Hi, I am a divorcee sometimes back and have 2 kids with me. I am staying in Hougang in a 5 room flat but have decided to downgrade to a 4 room as i do not see the need to have that much space anymore. However, when i check with HDB, i realised i cannot have HDB anymore and need to take bank loan instead. I am open to taking bank loan as there are advantages like lower interest rates, etc but i need to know if i were to sell my current flat and buy another 4 room using bank loan, what is the proper procedure for it to ensure that my CPF and cash from selling can come in smoothly? Do need some professional advice on this matters. Thank you.
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