For those who are single asset asset-rich and cash poor, yet not wanting to give up your current residential home to fund your retirement expenses, DBS has launched their HDB Lease & Buy-back Scheme: Reverse Mortgage.
There are a few conditions to note: age of your property, loan status typically. In essence, you monetise your real estate in exchange for a monthly sum, with the asset sold or mortgaged to the Bank, with the Bank having first charge to the outstanding sum earlier agreed upon.
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