Refinancing your property for cash, and credit consolidation
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 Sep 8 2017, 09:37 AM
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#1
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Newbie
4 posts Joined: Mar 2009 
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can advice whether is it possible/feasible to refinance my housing loan just to clear my personal loan or maybe consolidate the loan and maybe get extra cash for some renovations?
Below is details of the loan:- Housing Loan - (Remaining 32yrs) Outstanding:650k Monthly Installment:2,903.15 Personal Loan -5 years(remaining 3 years) Outstanding:30k Monthly Installment:875.00 |
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Sep 8 2017, 09:51 AM
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#2
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Newbie
4 posts Joined: Mar 2009
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QUOTE(lifebalance @ Sep 8 2017, 09:47 AM) Bro, abit hard la you lead me on a wild goose chase, if you're talking on your own scenario then I will need to look into your overall profile to comment. will need to look into your overall profile before I can comment further Age:29 Gross pay:5.7k Nett pay:4.6k Rental Income :nil Bonus 2014 2015 2016 Commitment House:2.9k(half half with wife) Car.1.2k Personal Loan:875(half half with wife) Credit Card outstanding:nil PTPTN:nil  |
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Sep 8 2017, 10:47 AM
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#3
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Newbie
4 posts Joined: Mar 2009
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QUOTE(lifebalance @ Sep 8 2017, 09:57 AM) Your income seems to be insufficient with the already high outstanding housing loan, unless you can joint loan with your wife to take up the refinancing. the refinancing will be joint loan with wife and estimated house value is about RM 700k and my outstanding for car is 120kAlso need to know what's your estimated house value and outstanding for ur car loan. in actual is it worth to do the refinancing looking at the info I provide? This post has been edited by roronoah: Sep 8 2017, 10:48 AM |
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Sep 8 2017, 10:56 AM
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#4
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Newbie
4 posts Joined: Mar 2009
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QUOTE(lifebalance @ Sep 8 2017, 10:50 AM) The refinancing is not possible to take place now since value is only 700k and your outstanding is 650k. so what will be the right value? |
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