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Financial Sell house but not settle loan is that possible?, Equiry
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TStzychun79
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 Jun 27 2015, 10:18 PM, updated 11y ago
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Getting Started
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Hi Guys, I got 1 more query about house loan. Let's say if I sold my house(the loan still within 3 years lock down period), can I don't settle my house loan with bank? Meaning I got the money from the buyer (let's say 300k). I use the money for other purpose but I don't use the money to off-set(or settle) the house loan, and I continue the monthly loan repayment to bank. Is the above scenario possible? I got a short discussion with my friend, he told me is not work that way. But both of us is not proficient in this area. Kindly help if your specialist in this area. Thanks in advance.  |
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TStzychun79
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Jun 27 2015, 10:27 PM
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Getting Started
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QUOTE(2feidei @ Jun 27 2015, 11:22 PM) How do you can transfer your house ownership that is currently charge to the bank to new buyer if you don't settle your loan? Hehe... OK got it. Thanks... some knowledge gained. |
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TStzychun79
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Jun 27 2015, 10:28 PM
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Getting Started
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QUOTE(Alvinyeo @ Jun 27 2015, 11:22 PM) Hehe... sorry. My interpretation for loan is poor. I learned now.  |
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TStzychun79
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Jun 27 2015, 10:28 PM
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Getting Started
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QUOTE(ims2628 @ Jun 27 2015, 11:22 PM) Thanks, got it!! |
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TStzychun79
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Jun 27 2015, 10:57 PM
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Getting Started
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QUOTE(InF.anime @ Jun 27 2015, 11:40 PM) sounds like you wanna sell your father's house ? Is my own house, just 1 year loan. |
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TStzychun79
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Jun 27 2015, 11:20 PM
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Getting Started
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QUOTE(InF.anime @ Jun 28 2015, 12:00 AM) nice flip  Nope... house is actually 8 years, but loan refinance only 1 year. Just got a target for another house.  |
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