WOULD you rather lose your only home that provides shelter to you and your loved ones or find ways to safeguard it.
The ongoing Covid-19 pandemic is certainly not helping as it has led many to lose jobs and take pay cuts, leading to financial instability.
With that, repaying loans and mortgages may not be a priority for some. Even though the moratorium is a huge relief, a loan or mortgage needs to be repaid sooner or later with accrued interest.
Defaulting and refusing to repay loans and mortgages can lead to severe consequences if you are declared bankrupt.
Then the assets under your name will be acquired by the Official Assignee and sold or converted to cash.
The payment is then made on a prorated basis to the creditor. Normally, for …
Read the full article at: https://www.thestar.com.my/business/business-news/2021/07/19/saving-your-only-home
