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Home owners in HDB loan arrears to receive help servicing mortgage
The Straits Times
|April 16, 2025
Home owners facing financial difficulties due to job or income loss will be allowed to reduce or defer their monthly loan installments for up to one year, instead of the current six months, under a new programme starting on April 15.
Under the Homeowner Job Support (HJS) pilot programme, the Housing Board will also suspend mortgage interest for home owners in mortgage arrears for one year.
These measures are conditional on the home owners working actively with a career coach from Workforce Singapore (WSG) or NTUC's Employment and Employability Institute (e2i) to develop an employment plan to secure a full-time, permanent job.
HDB said about 1,200 households who are in HDB loan arrears could potentially benefit from the programme.
"Buying a home is a significant financial commitment," Minister of State for National Development Muhammad Faishal Ibrahim said in a Facebook post on April 15.
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