Oct 27 2009, 10:14 AM
QUOTE(YannYann @ Oct 26 2009, 04:24 PM)
after clarify with my hubby, herewith more info, need advises help from the sifus here..
1 apartment and 1 corner double storey house bought at bukit beruntung > 10years ago.
Apartment : 59k
House : 159k
Loan <> : 185k
The properties there become 'dead' after the government built the airport at sepang instead of bukit beruntung.
Both the apartment n house got built up, so kenot sue the developer. But both of it almost collapsed as no one stay there at all for more than 10 years.
Hubby refinance his current staying house at KL to pay off the balance of loan for beruntung. If he dont pay the loan, i guess the bank will tarik his current house instead of his untung house.
He is paying 1.5k monthly to HSBC with a daily interest calculation. Now got 120k loan to pay.
We got cash of 70k after saving for more than years. Thinking of throwing the cash into the loan to reduce the tenure of loan.
We will renovate our current staying house in KL nxt year and we got around 130k from our epf accounts that can be taken out and planning to get some loan from bank to furnish the house.
Our 2nd bb coming out early next year too. With all these coming out at the same time, i dont know how to arrange the cash or loan....
can helps?
Firstly, it is a waste of legal fees & other expenses to refinance one house ,t to pay off the other. Why not just continue paying the UNTUNG's house. Try negotiate with the bank for waiver of interest or partial interest. Your hubby made a wrong judgement by buying into Beruntung, nothing can change that. Try disposing it, if possible even u make a huge losses. You don't have any alternative. 1 apartment and 1 corner double storey house bought at bukit beruntung > 10years ago.
Apartment : 59k
House : 159k
Loan <> : 185k
The properties there become 'dead' after the government built the airport at sepang instead of bukit beruntung.
Both the apartment n house got built up, so kenot sue the developer. But both of it almost collapsed as no one stay there at all for more than 10 years.
Hubby refinance his current staying house at KL to pay off the balance of loan for beruntung. If he dont pay the loan, i guess the bank will tarik his current house instead of his untung house.
He is paying 1.5k monthly to HSBC with a daily interest calculation. Now got 120k loan to pay.
We got cash of 70k after saving for more than years. Thinking of throwing the cash into the loan to reduce the tenure of loan.
We will renovate our current staying house in KL nxt year and we got around 130k from our epf accounts that can be taken out and planning to get some loan from bank to furnish the house.
Our 2nd bb coming out early next year too. With all these coming out at the same time, i dont know how to arrange the cash or loan....
can helps?
As for the cash u are holding, don't use all the pay the loan. Have some cash in hand in case of emergency. That is very important.
Another thing, don't use so much money for renovation, it is a sunk cost, doesn't really bring about appreciation to your house.
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