Why HDB Flat Owners Need To Know About The Home Protection Scheme

Owning a HDB flat is an important milestone for the vast majority of Singaporeans and Permanent Residents. It is also no small feat, often requiring financial commitments of up to 25 years. 

What if the owner(s) should meet with unfortunate events, like serious accidents or major illness, that disrupt their ability to continue paying for their flats? Would they or their family members have to go through financial hardship to keep up with the mortgage, or face the danger of losing their homes? 

To prevent that from happening to HDB flat owners, the Home Protection Scheme (HPS) was introduced. Read on to find out how it can benefit you.