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> Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)

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valve
post Jan 3 2018, 11:13 PM

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Just to check on the MRTT's concept. I joint loan with my wife, both covered 100% according to MRTT's offer letter but the tenure is different. I am having 30 years tenure while my wife only 28 years tenure. What would happen if one of us passed away/disable ? Need to continue run the loan or all covered ? What's the different on another 2 years tenure that different with mine ?

This post has been edited by valve: Jan 3 2018, 11:14 PM
valve
post Jan 3 2018, 11:18 PM

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QUOTE(lifebalance @ Jan 3 2018, 11:15 PM)
It would mean if your wife pass away earlier than you, her mortgage insurance will not be able to pay off the full loan outstanding as the coverage will fall faster and ends by 28th year.
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So meaning that, need to continue pay another 2 years for full installment since the tenure of the loan is 30 years ? When it will be activated ?
valve
post Jun 8 2018, 03:32 PM

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Hi, just to clarify on the joint loan. A is 100% MRTA while B is 98% MRTA. Please advise what would happened if A or B passed away/full disability ?

If A gone, B no need to service loan anymore ?

If B gone, A need to service loan another 2% ?
valve
post Jul 31 2018, 02:52 PM

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Anyone knows "Affin Home Invest-i" whether we can do extra payment per month to shorten the tenure ? I have performed the necessary, but it ends up as "Advance Payment".

Please advise.

 

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