Apr 15 2020, 03:05 AM
QUOTE(toos99 @ Nov 9 2019, 11:45 PM)
Yearly in Oct. can’t remember exact date but it comes every year sharp.
I’m just wondering if it’s the insurance for the house as the amount is the same always.
I supposed it is fire insurance which is required to purchase every year. I’m just wondering if it’s the insurance for the house as the amount is the same always.
If you do not get fire insurance from other companies, the bank itself will buy on-behalf and charge under your Loan.
I noticed this too first 2 yrs, and since then i bought from other insurance company, I need to issue the cover sheet to proof I purchase one and email to their customer service.
Since then I do not see any reduction anymore.
So if you have additional money in the loan, i believe it will minus off, otherwise it will increase your principal (i think).
Anyhow, I'm also confuse with the option "Advance Payment vs Prepayment Principal" for Semi Flexi.
I see some say it reduces the principals but why 2 options?
Advance Payment - reduces principal and can redraw money out through counter/write-in?
Prepayment Principal- reduces principal but cannot redraw money at all?
Anyone knows?
This post has been edited by coolwave81: Apr 15 2020, 03:13 AM
Quote
0.0158sec
0.52
7 queries
GZIP Disabled