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HDB flat paid fully with CPF is a big mistake?

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Old 17-02-2019, 08:27 PM   #31
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if you are a fellow Sinkie who served NS... then try the AVIVA NS Group insurance... insure 1M to enrich your beneficiaries if you die before age 65....
MR liao still can apply?
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Old 18-02-2019, 12:36 AM   #32
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MR liao still can apply?
Yes. Cheapest plan.
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Old 15-03-2019, 11:37 AM   #33
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Yes correct. Plus even if you sell, the money goes back into your own CPF. Still yours.

And if the sale results in less than the CPF used + accrued interest, there is no need to top up the accrued interest in cash.
but the property agent i spoke to (thinking of selling my hdb) said i need to fork out 80k cash to my cpf for accrued interest and negative sale. i bought at a high with COV and now selling at a loss.
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Old 15-03-2019, 12:41 PM   #34
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but the property agent i spoke to (thinking of selling my hdb) said i need to fork out 80k cash to my cpf for accrued interest and negative sale. i bought at a high with COV and now selling at a loss.
I thought the rule is you pay for the shortfall in cash if your flat is sold below valuation. Otherwise no need to top up the shortfall and it'll be treated as a cpf loss?


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Old 15-03-2019, 04:56 PM   #35
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not sure also.. i also not sure how much is my hdb valued and when i just do simple calculation i will need to fork out quite alot of cash to my cpf and affect my downpayment for next place, hence not biting the bullet yet
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Old 15-03-2019, 05:11 PM   #36
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not sure also.. i also not sure how much is my hdb valued and when i just do simple calculation i will need to fork out quite alot of cash to my cpf and affect my downpayment for next place, hence not biting the bullet yet
it gets worse though the longer you hold, won't it ?
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Old 15-03-2019, 08:17 PM   #37
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but the property agent i spoke to (thinking of selling my hdb) said i need to fork out 80k cash to my cpf for accrued interest and negative sale. i bought at a high with COV and now selling at a loss.
Pls share who is your agent.

Coz he or she is LYING. There is never need to top up cash to CPF when selling even if negative sale
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Old 16-03-2019, 08:05 AM   #38
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If i pay my mortage using cpf, definitely i will need to payback the accrued interest as well when i sell the house.

Is it possible to self top up cpf during the period of 25 years paying the loan? To lessen the accrued interest. So when i want to sell the house, the accrued interest will be lowered to zero.
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Old 16-03-2019, 08:52 AM   #39
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Unless you have an investment instrument to beat the interest then u should just fully pay.

I know many people who think they can beat it but do nothing with their money. That is a mistake.

As for insurance, me and my wife just buy term life for 1M each.
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Old 16-03-2019, 11:49 AM   #40
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If i pay my mortage using cpf, definitely i will need to payback the accrued interest as well when i sell the house.

Is it possible to self top up cpf during the period of 25 years paying the loan? To lessen the accrued interest. So when i want to sell the house, the accrued interest will be lowered to zero.
You don't top up to cpf to pay mortgage loan. This will still incur accrued interest.

You pay cash straight using ibanking. No accrued interest on those lump sum payment.
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