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<HK Home>mReferral Mortgage Eric Tso: Homeowners Likely Not Required to Continue Mortgage Payments
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The No.5-alarm fire at Wang Fuk Court in Tai Po has affected some homeowners who still have mortgages. Eric Tso, Chief Vice President at mReferral Mortgage, said on a radio program that the insurance company should compensate the bank, as banks require homeowners to purchase fire insurance when applying for a mortgage. From the bank's perspective, the remaining mortgage loan has already been repaid, and affected homeowners are likely not required to continue payments, because the fire insurance will compensate the bank for the remaining mortgage loan, although homeowners should theoretically continue to make payments, Tso explained. AASTOCKS Financial News Website: www.aastocks.com |
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