Hi, just noticed that you said redraw and not refinancing and this is minimal cost.

Please note that you cannot redraw any amount that you utilise your EPF Account 2 in the past.

Honesty, I was in your shoe before. Should I redraw to change my National Car to a better car. It was tempting but in the end I did not cause the aim Is always to be debt free as soon as possible.

And I was totally debt free for 2 years. It was the best feeling in my life.

But if you don't mind having to repay the redraw amount it's okay cause in a way, it's your savings but in a different form.

Its was higher than FD when you overpaid your HL, using it now is not a bad idea.

Your case is very complicated cos co-owner is still alive but incapacitated. Plus you don't have a power of attorney.

Does the co-owner have a will. What is the relationship between you and the co-owner. Does the co-owner have any family members.

In Normal circumstances you have to wait for the co-owner to recover or die and then get a probate (if there is will) or Letters of Administration (if no Will).

You could try to get the doctor to issue a letter that the co-owner is currently incapacitated with no chances of recovery and try to get the probate or Letter of Administration but you will need to consult a lawyer if this is possible.

Also normally you may also need a Government doctor to issue such letters but be ready for challenge by co-owner other family members.

To add, when probate or letters of Administration is granted, it's up to you and the beneficiaries to decide what to do with the house.

If you want to refinance but they don't want, you're still STUCK.

This post has been edited by cfa28: Jul 12 2017, 08:27 AM

If you have used your EPF Account 2 to pay down your Housing Loan previously, I was told that you CANNOT redraw out this amount in the future.