My Apartment still is negative assets
Market Price was HKD2,400K(575 feet in JAN1997,
Actual Price was HKD1,700K under Sandwiches Class Housing Scheme)
1st Mortagae was HKD1,020K(60%), 2nd Mortgage was HKD340K(20%) normal repayment is HKD10K per month
Recent value is about HKD1,400K (AUG2004)
If I sell it out, after i redemed the mortgage loans, I still need to refund 30% (HKD420K) to HK SAR Government under the above Scheme,
total loss wo including the loan interest and owing to the
government tim???
Thank God, we have the jobs from 1997 to now with
steady income to repay the loan.
otherwise, P.K. la
so , you must make sure your income and repayment
amount must below 50% of your income,
Rent and change an apartment every two years is quite good la
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