Club 30's "Kill The Boredom Demon" Jive Pad, 58th Edition
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It will be of adding in my name.Originally posted by elindra:There will be no transfer in names right?
Coz it would be more advisable to give your parents the money to pay for the mortage instead of transfering of names coz what if you meet a Mr Ferret and wanna get married and get your own place? You will have a problem
Reason : CPF sitting in bank.
Plus I can take a 30 year one instead of a 20year (current) -
I think expats pay are higher ? thus they get better comm from getting a "genuine" canandian than u ?Originally posted by Fatum:I actually had a head hunting company call me up here and ask me if I'd be interested in a regional software sales position based in Singapore .....
we yakked for a while ... things were starting to look pretty promising ... until I told her that I'm no Canadian ... but Singaporean .....
she hung up .....
I dunno why ...... something wrong with Singaporeans or what ? .... -
Ya if use CPF cannotOriginally posted by Wanda:If dun transfer name, can still use her CFP to pay meh? I think cannot.
Also transferring names will involve some conveyancing fees...of about $2-3k. I kena before...all for nothing...all bec of my folks.
TMD, they think money so easy to earn. 
But it is really not advisable especially so since Ferret is still young and it is going to cause her a shit load of problems when things changes in her life.
The best thing to do seriously is to pay the mortage in cash if she is going to bear the loans -
Like one system designed for my office lor.... Dun need 6 mths, within 2 mths, I already told IT the things that were wrong with the system and the inadequacies (which were so obvious to a logical person). After which, any "improvement" to be done involves money.Originally posted by Fatum:I know these chaps .... I also know the ah tiongs .....
some of them are really very very good .... but most of them are only good at selling and talking .... they can't code for nuts .....
oh sure ... they'll deliver to you a working system ... it may even be designed according to your specs ... but 6 months down the line, something will blow up and you'll discover that it'll take twice as long to resolve the bug as to code up the entire system .... cos of bad foundations, bad design, lousy documentation ....
of course .... when you pay peanuts, what do you expect ? .... -
Ferret if you think you will never get married or buy a place of your own again then maybe you want to use the CPF in your bank lorOriginally posted by Ferret:It will be of adding in my name.
Reason : CPF sitting in bank.
Plus I can take a 30 year one instead of a 20year (current)
If not I really advise you against it coz you will really regret it as it affects alot of things including your status when applying for other loans. -
I have actually been planning abt taking over the mortage for some time now. I am finalizing my decision by this month end.Originally posted by elindra:Ferret, you must always remember that once you have a loan under your name it is like impossible to get another mortage loan or any other loan for a matter of fact unless you are earning lots and lots of money per mth
Heck, if you wanna get a credit card, get it before you tie yourself to any loans coz they take that into consideration as well.
But it just hit me abt the other loans such as reno and personal... so thats why i am poring thru all these websites now.
Credit cards >.<" -
Not that I want to pour cold waterOriginally posted by Ferret:I have actually been planning abt taking over the mortage for some time now. I am finalizing my decision by this month end.
But it just hit me abt the other loans such as reno and personal... so thats why i am poring thru all these websites now.
Credit cards >.<"
Really need to consider all aspects and also factor in your future into it
A mortage of 20 - 30 yrs is a long time -
No matter what others may say, my advice is that a longer term is not necessarily better. This I speak from experience from having been involved in 2 resale flat transactions. With a longer term, you'll just end up paying lots more interest to HDB, which I've heard in some cases - was as much as 1.5x the amount of the original loan in the end.Originally posted by Ferret:It will be of adding in my name.
Reason : CPF sitting in bank.
Plus I can take a 30 year one instead of a 20year (current)
Or you can choose a longer term loan initially, but when there's a lump sum accumulated in your Ordinary account, go and pay the lump sum to reduce the loan, if possible. -
CPF can be investedOriginally posted by Ferret:It will be of adding in my name.
Reason : CPF sitting in bank.
Plus I can take a 30 year one instead of a 20year (current)
Both AV and I are doing that and so far so good
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Originally posted by elindra:Ya if use CPF cannot
But it is really not advisable especially so since Ferret is still young and it is going to cause her a shit load of problems when things changes in her life.
The best thing to do seriously is to pay the mortage in cash if she is going to bear the loans
Thanks elindraOriginally posted by elindra:Ferret if you think you will never get married or buy a place of your own again then maybe you want to use the CPF in your bank lor
If not I really advise you against it coz you will really regret it as it affects alot of things including your status when applying for other loans.
I understand what taking up this mortage means. I actually went through most of the stuff with a NDB officer yesterday. -
Its been looking really good recentlyOriginally posted by elindra:CPF can be invested
Both AV and I are doing that and so far so good -
erm if you can afford it i think a 20 year one is better, 30 years will be really paying alot more and also that you are stuck in debt for that much longerOriginally posted by Ferret:It will be of adding in my name.
Reason : CPF sitting in bank.
Plus I can take a 30 year one instead of a 20year (current) -
Very good in factOriginally posted by av98m:Its been looking really good recently 
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Looks like the shipping route thru the Arctic is too good to be true
http://news.yahoo.com/s/nm/20071003/lf_nm/arctic_passage_dc -
Which invm fund is that?Originally posted by elindra:Very good in fact -
I did.Originally posted by elindra:Not that I want to pour cold water
Really need to consider all aspects and also factor in your future into it
A mortage of 20 - 30 yrs is a long time
sadly, I know abt how the interest works.Originally posted by Wanda:No matter what others may say, my advice is that a longer term is not necessarily better. This I speak from experience from having been involved in 2 resale flat transactions. With a longer term, you'll just end up paying lots more interest to HDB, which I've heard in some cases - was as much as 1.5x the amount of the original loan in the end.
Or you can choose a longer term loan initially, but when there's a lump sum accumulated in your Ordinary account, go and pay the lump sum to reduce the loan, if possible.
Unfortunately, going into details of the why and how I am taking this up would take too long.Originally posted by elindra:CPF can be invested
Both AV and I are doing that and so far so good
Briefly, my parents are unable to service the current loan. It was this or move out.
I rather spend my time researching more into it. Actually I hope you guys might be able to help with that instead of disuading me from it T.T -
before I revealed that I was not a Canadian, but a Singaporean, they were perfectly to ship me to Singapore, set me up on expat terms, and give me a job that'll have me jet around the region ....Originally posted by Ferret:I think expats pay are higher ? thus they get better comm from getting a "genuine" canandian than u ?
so what changed after I told them that infact, I'm a Singaporean ? ....
if anything ... if they think I'm a suitable candidate in the first place .... then me telling them I'm a Singkie should be good news to them, cos they can save on the expat perks, right ? ...
and that's what eating me ! ... -
without looking at your loan documents, not much we can say.
but one thing you must do, which is to buy mortgage insurance -
yah.. what investment??Originally posted by Wanda:Which invm fund is that?
I was also thinking of investing my CPF since its sitting there earning the pathetic interest... but not sure what to invest in.. -
Wanda my investment is with Prudential and basically it is the Singapore funds
Ferret, is it possible to finance the loan by cash payments instead of CPF?
If you guys can afford paying it by cash I think it would help alot -
as i said these idiots at work. should all be shot to death and shot again to make sureOriginally posted by Fatum:before I revealed that I was not a Canadian, but a Singaporean, they were perfectly to ship me to Singapore, set me up on expat terms, and give me a job that'll have me jet around the region ....
so what changed after I told them that infact, I'm a Singaporean ? ....
if anything ... if they think I'm a suitable candidate in the first place .... then me telling them I'm a Singkie should be good news to them, cos they can save on the expat perks, right ? ...
and that's what eating me ! ...
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Bad time laOriginally posted by bluejuice:yah.. what investment??
I was also thinking of investing my CPF since its sitting there earning the pathetic interest... but not sure what to invest in..
We got it when it was very very low
Seriously I will need to do a switch in 2008 or so not been paying too much attention to it lately
Will need to liao -
domain knowledge ... it's all a matter of domain knowledge ....Originally posted by Wanda:Like one system designed for my office lor.... Dun need 6 mths, within 2 mths, I already told IT the things that were wrong with the system and the inadequacies (which were so obvious to a logical person). After which, any "improvement" to be done involves money.
the designers and code monkeys won't know everything in the domain of the system .... we won't know what it's for ....
we get a set of specs, and try to come up with a design that satisfy everything ...
but if the set of specs were wrong to start with .........................
that's why there's a new job coming onto the IT sector ... business process analyst .... -
here's an example of cpf aapproved investment fundsOriginally posted by bluejuice:yah.. what investment??
I was also thinking of investing my CPF since its sitting there earning the pathetic interest... but not sure what to invest in..
http://www.aia.com.sg/east_info_fund.asp
You must make sure that you will not be needing the CPF $$$ that you invest in those funds because you need to be able to hold on to them for quite a while, in case you have to ride out any stock market crashes.
and do your homework, read up and see which are the funds with potential.
also pay special attention to sales and management charges. -
I just read the last line of AV's siggy ......