Dec 31 2015, 03:16 PM
QUOTE(Sinsanity @ Dec 31 2015, 03:07 PM)
Dear sifu, pls advice
my dad and i bought a studio unit around 300k.
SPA of the studio : his name and my name
loan : his name because i was a student back then
loan tenure : 13 years because my dad is 57 years old at tat time
loan installment : 2,2k (very expensive for me - im a working adult now)
Question :
1) can i change the loan agreement into my name to extend the loan tenure to 30 years to reduce the loan instalment?
2) maybe i can ask my dad to refinance the property using my name?
Possible?
change your spa to your name only but need pay the fees, survey around for bank that inclusive of the name change fees....u can extend to 30 years easily...your dad to refinance most likely hard as he's veteran and hard to justifymy dad and i bought a studio unit around 300k.
SPA of the studio : his name and my name
loan : his name because i was a student back then
loan tenure : 13 years because my dad is 57 years old at tat time
loan installment : 2,2k (very expensive for me - im a working adult now)
Question :
1) can i change the loan agreement into my name to extend the loan tenure to 30 years to reduce the loan instalment?
2) maybe i can ask my dad to refinance the property using my name?
Possible?
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