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My new BTO house will be ready somewhere next yr 2012 1st quarter.Problem is my old 3 room flat wher i stay now the mortage still got outstanding & have been advise by the HDB & CPF that i will need to top up cash for my installment start from next year march2012.My quiries is :
1)i am going to extend the date of moving in the new house including of the 6 month period where given by the HDB,example if i receive the letter of collect the key in March 2012,i will write to HDB to extend to dec2012.How about the installment for the new house,they will start count when the moment i collect the key?
Is that any way to clear the installment for my old house,means i may use the balance CPF & portion of cash to clear the outsatnding installment before i move to new home.
May be u have a perfect solution about that.Kindly advise,thank you
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1 Answer

Morning Joyce,

I have served a clients who were in the same situation as yours. What you can do is to check with HDB on the estimated period of key collection for your upcoming unit.
You can then work out on how much your current unit is worth. Pace the selling to coincide with the key collection, so that you have the cash and CPF fundings ready as the first installment for your new unit will only commence about 1 plus month, after your key collection.

FYI
Mike Lim
 96929209 
ERA Read More
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