We Are Not HDB Flats Owners
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Actually ah.. if you save up and migrate to reitre elsewhere at the end of the day, sell everything you "own", demand to have all your CPF and whatever they "save" for you, you can pretty much have everything back.
Just don't come back...
It's a big step, but staying on here is just as big a step really...
it's so bluddy uncertain... -
No one can see the future. If you commit to a mortgage that takes up the bulk of your income, you take the risk of running into dire financial straits when your financial situation changes. If you make a rash decision, you pay the consequences. No one to blame but themselves.Originally posted by fymk:What if it was this way : the family originally could afford the housing when they had jobs which paid fairly well. Then after that , the company retrench them because of FT or due to the fact the breadwinner was over 40 years old. They had no choice but to work as lowly paid workers because government tells them not to be fussy? Then they had to survive , pay bills , pay school fees , pay maintenance etc ......
How about that scenario ? Anything to say about it? -
You don't know what is the value of the mortgage and how much the family owed either. We don't even know if this story is true, for god's sake. The bank will only re-possess the flat if it is clear that the family cannot re-structure the loan and there is no reasonable prospect of that loan being paid off.Originally posted by Fingolfin_Noldor:Perhaps before you start shooting, you find out what happened.
As it is, we don't know why the family made the decisions they made, and all we know, is that they got kicked out, and interestingly enough, the bank has been unable to sell the flat.
That has a couple of implications in its own right.
Banks are not daft. If they re-possess a property, they take the risk that they may not be able to sell it without incurring a big loss. Mortgagee sales usually come at a great discount. The housing market sentiment now is not bad. If the bank really cannot sell it, it's probably because they expect the price to go up and are not keen to sell it at the prevailing price. -
Not all are financially savvy who really knows how to managed their $$$ in a most prudent way.Originally posted by oxford mushroom:No one can see the future. If you commit to a mortgage that takes up the bulk of your income, you take the risk of running into dire financial straits when your financial situation changes. If you make a rash decision, you pay the consequences. No one to blame but themselves.
Add on to it is, these banks people could have either deliberate or unintentionally witheld cetain vital info or worst misled these simple minded / trusting folks. -
Isn't buying a flat no different from renting one?
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I pity the familiy but equally I found it puzzling if they can pay the rent ofOriginally posted by lionnoisy:wrote by lowclassman
2.Pl state reason why bank cant sell?
$800 for 3 room flat should they pay the $900 so they can get back their
flat?
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Historian eh?Originally posted by oxford mushroom:They would not be in this situation if they had rented a 3-room flat right from the start.
Secondly, if they are in the low income group, they get huge subsidies from the government if they rent a HDB flat. For incomes between S$801 to S$1,000, the monthly rent is only 20% of the market rent at the point of allocation. If they earn between $1000 and 2000, the rental is only 30% for the first 2 years. Subsequent renewals are still heavily subsidised.
(http://www.hdb.gov.sg/aa11/isrr018p.nsf/RpsConditions?OpenForm)
The problem is that many Singaporeans overstretch themselves. Why buy a 5-room flat when they cannot afford it? They have got themselves to blame..
Why don't we go further back in time?
Lets go all the way back to the family's fore fathers and quote:
"They would not be in this situation if they were borned in Sweden or some European states". -
SINGAPORE : The government cannot repeatedly provide assistance and subsidies to bail out financially irresponsible households.
---> i see this statement , i ball of fury is growing.
Goverment ask us get marry and more children, then if we lost our job etc, we become irresponsilbe households? -
i think it was mentioned somewhere they have to clear outstanding amounts before they can get the flat back..Originally posted by will4:I pity the familiy but equally I found it puzzling if they can pay the rent of
$800 for 3 room flat should they pay the $900 so they can get back their
flat?
and cos they're renting now.. if they pay 900 to the bank, they got nowhere to stay unless they got 1700 a mth for them to pay for both the mortgage and the rental. -
What you expect from Crap-jammed "leaders"??Originally posted by blowfish:SINGAPORE : The government cannot repeatedly provide assistance and subsidies to bail out financially irresponsible households.
---> i see this statement , i ball of fury is growing.
Goverment ask us get marry and more children, then if we lost our job etc, we become irresponsilbe households? -
Absolutely right!!!!!Originally posted by Cindyfeh:Historian eh?
Why don't we go further back in time?
Lets go all the way back to the family's fore fathers and quote:
"They would not be in this situation if they were borned in Sweden or some European states". -
Originally posted by blowfish:
SINGAPORE : The government cannot repeatedly provide assistance and subsidies to bail out financially irresponsible households.
same problem... since when... thought they have very good education system in place to help wat? social workers with low pay NEVER give up.. so are they starting new trend...? elected to serve? or rather have the desire to serve?
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Originally posted by eyebuzz:
Why are there ''so many'' financially irresponsible households in swiss standard sinkapore?
Originally posted by blowfish:
SINGAPORE : The government [b]cannot repeatedly provide assistance and subsidies to bail out financially irresponsible households.
same problem... since when... thought they have very good education system in place to help wat? social workers with low pay NEVER give up.. so are they starting new trend...? elected to serve? or rather have the desire to serve?
[/b]
How many is ''many''? -
Ya loh haiz. Then Medacorp gonna use this idea & make more silly family-based TV showsOriginally posted by blowfish:Goverment ask us get marry and more children, then if we lost our job etc, we become irresponsilbe households?
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just how long will the HDB keep deluding us? we are the lessee of the flats, not owner. i asked the lawyers at the HDB hub there to redefine the term lessee means. basically what he says is; "u dont own the flat"
so the next time u visit the HDB to transact flats or any other matters that deals with them, do ask them to explain the proper term, that we dont buy the flat, but pay for the transfer of the lease term.
if any ministers say that there is over 90% of house ownership, that is grossly inaccurate and legally wrong. -
Not when they are living 2 or 3 generations stacked together in a 3 or 4 room flat.Originally posted by oxford mushroom:Why buy a 5-room flat if they cannot afford it? Get a smaller flat or rent one!
If you aspire to live beyond your means, don't complain about the consequences -
Why not say they would not be in this situation if they were never born.Originally posted by Cindyfeh:Lets go all the way back to the family's fore fathers and quote:
"They would not be in this situation if they were borned in Sweden or some European states". -
And how do you know the HDB market is doing well?Originally posted by oxford mushroom:You don't know what is the value of the mortgage and how much the family owed either. We don't even know if this story is true, for god's sake. The bank will only re-possess the flat if it is clear that the family cannot re-structure the loan and there is no reasonable prospect of that loan being paid off.
Banks are not daft. If they re-possess a property, they take the risk that they may not be able to sell it without incurring a big loss. Mortgagee sales usually come at a great discount. The housing market sentiment now is not bad. If the bank really cannot sell it, it's probably because they expect the price to go up and are not keen to sell it at the prevailing price.
I recall once upon a time, someone asked the HDB to reveal its figures and so forth in the name of transparency.
I think nothing came of that. -
That's not the full picture. Because if that's true, then they are clearly insolvent and should apply for bankruptcy. The debts get canceled and they wouyld only have to pay rental for the 3-room flat.Originally posted by shinta:i think it was mentioned somewhere they have to clear outstanding amounts before they can get the flat back..
and cos they're renting now.. if they pay 900 to the bank, they got nowhere to stay unless they got 1700 a mth for them to pay for both the mortgage and the rental. -
Just check the housing prices...certainly not fallingOriginally posted by Fingolfin_Noldor:And how do you know the HDB market is doing well?
I recall once upon a time, someone asked the HDB to reveal its figures and so forth in the name of transparency.
I think nothing came of that. -
Caveat emptorOriginally posted by Mid9Sun:Not all are financially savvy who really knows how to managed their $$$ in a most prudent way.
Add on to it is, these banks people could have either deliberate or unintentionally witheld cetain vital info or worst misled these simple minded / trusting folks.