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Private Property

Your Comments – My Replies #3

I would like to thank Marc for visiting my blog and posting his comment after his read on my posts on the importance of having Mortgage Insurance to protect a Mortgage Bank Loan. If you are interested in reading what I have written on this particular topic, these are the links:

Mortgage Insurance For Your Mortgage Loan – Part 1 of 3

Mortgage Insurance For Your Mortgage Loan – Part 2 of 3

Mortgage Insurance For Your Mortgage Loan – Part 3 of 3

And this is the comment by Marc:

“Hi, it seems from your article that one can purchase a mortgage insurance with a sum assured higher than the loan amount; coverage longer than the loan tenure.

Please elaborate how this insurance can help one in time of need after the loan has been paid up completely.  Doesn’t the insurance lapsed automatically once the loan had been paid up?”

This Is My Reply:

– With Regards To Higher Sum Assured and Longer Coverage Period

Read More »Your Comments – My Replies #3

Mortgage Insurance For Your Mortgage Loan – Part 1 of 3

With the recent property boom in Singapore, there’s an increment in people taking up Private Bank Loan and thus creating a concern in terms of financial planninga need to protect the mortgage loan (and their pricey assets) should anything unforeseen happen to the Loan Owners…

The Common Belief – Should Anything Happen, I Can Just Sell Off The Property…

If everything is so straight forward, life will be perfect! In Reality, Property does not sell by itself especially if the Developer had done quite a heavy bit of their own advertising. The initial selling price is usually jacked up and to really pull it off in selling – takes patience, time, effort, negotiation and being able to sustain the few months of loan payment.

Or even the worst case of selling the property below the market value…

Are You Selling Your Property?

So What Should You Do? For Any Mortgage Loan, There’s Mortgage Insurance!

If you only know Term Insurance, there’s in fact a Mortgage Insurance or commonly known as Mortgage Reducing Term Insurance and not to be confused with Decreasing Term Insurance.

Read More »Mortgage Insurance For Your Mortgage Loan – Part 1 of 3