In the past few weeks I have been hearing of my brother-in-laws buying houses. One of them is purchasing a bigger house than his present house. As his three children are growing older, his present 3 bedroom house is not sufficient for all of them. His option would either to buy a bigger house or renovate the present house. Since the present house is a terrace house, it is difficult to renovate the house as space does not permit it. So, the only option for him is to buy a bigger house.

There is a minor problem that he is facing right now. The existing house is still under the bank’s loan. Furthermore, he has yet to clear off his car Loans. This makes it a bit difficult for him to apply for another mortgage loan that would be able to cover the whole purchase price of the new house. He said that he would have to refinance the existing loan and asks for help from the other brothers. I do hope that the other brothers would be able to help him out.


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