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Home Financing

Asked by Anonymous 9 Oct 2012

I have a 4-room flat with outstanding hdb loan around 120k. Flat is under father's and my names. I just got married and not sure if want to put my spouse's name in. Her cpf will clear the outstanding loan. Or should we buy a new hdb or condo under our names. My father's cpf is insufficient to purchase his own flat.

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Mike Lim · Answer 1 · 2012-10-09T19:20:27+08:00

Mike Lim

Replied 9 Oct 2012

Evening,

Your case is clear. If you choose to remove your name, your dad need to repay the CPF plus interest which you have contributed. Hence you and your spouse need to work out the financial status with your father before moving on.

Regards
Mike Lim
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