HDB loan - Very Important

[Lynn_Ida]

yup.. its scary if we hit our VL limit and not having the minimum sum in the CPF.
Ramai orang use the same amount contributed to the CPF ordinary account monthly to pay for their housing loan, therefore no buffer for CPF saving. That way, it will be tough to save up for the minimum sum requirement.

[baby shah]

What abt if their CPF hv been used up & they hv to pay cash (For e.g : S$800 per mth) but they juz ignored it .. What will happen to the hse? repossesed??

[mudpie]

What abt if their CPF hv been used up & they hv to pay cash (For e.g : S$800 per mth) but they juz ignored it .. What will happen to the hse? repossesed??

like i mentioned in my earlier post, HDB still has the leniency to work out some alternatives for its clients....most likeable scenario, they'll do a re-mortgage plan for their clients, they will still probably consider another 2nd chance or perhaps 3rd chance....repossession is a bit too harsh to hear it coming frm HDB...

[alghojo]

you will pay for ur ignorence, with hefty penalties and interests and if not taken care of the sum will be substantial.

[noraz_25]

hmm i tink no wonder lah ours selalu they call n ckp tak cukup, tak cukup deh..
now we very e pening on where to get the money to pay to them..
currently ours have been outstanding for $2k++ cmg to $3k.. (dgn late payment skali hehe)

they keep asking us to turun, bt if turun no $$ pun buat apa? buang masa je..

so i act hoping sgt that they consider our case n hopefully we can b downgraded.. 
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sis u can ask for defer pymt for a period of time.......estimated over 6mths......but int accrued......

[noraz_25]

NZ, the fact tt u r taking up HDB loan, they can still consider other alternatives to work out wif u to settle tis issue. I noe HDB is pretty lenient compared to Bank Loans, which is rather harsh when money is concerned. Go down to any HDB Town Council & discuss yr plight. I hv a relative who prefer to sweep the dust under the carpet & ended up hvg their outstanding loan shoot up till 20+K over a period of 3 years or so. It's no joke cuz time flies, u didnt realise this 'nitty gritty' stuffs till it balloons up.

HDB still hv their compassion to sort out issues wif their clients, but u juz hv to work wif them to resolve it....by not putting forth yr predicament wif them early, tt might triggers further complications in future.

As much as possible, HDB won't want to take the extreme steps to their client, they'll help as much as possible.....can't say much abt Bank rules & regulations.....hmmm siang2 dorang dah layang surat......

Bank Loan is hefty, tt i must say....for my bank loan interest is now pegged at 4.4% for the fourth year running, it's aint small money, baybee....

Ask nicely, dun get emotional..... MONEY EQUALS MONEY, NOT EMOTIONAL....YEAH???

Good Luck, Gurl.....

agree wif mudpie....coz i've someone who is in this situation...u can stil talk to HDB...they can refinance or defer pymt.......wif interest of coz.......rather than u dok diam n do nothing about it....lagi susah....

o yeah.....back 4-5yrs ago i do hv some exp like this....wat they advice me is to hv a defer pymt wif interest - that is "free" for est 6 mths or part cash, OA & SA........not sure if u r aware that max deduction fr ur SA account is $100 if ur OA is not enuf.....thou my mthly cuma $489......tak cukup fr both me n hub coz of retrenchment........

[noraz_25]

like i mentioned in my earlier post, HDB still has the leniency to work out some alternatives for its clients....most likeable scenario, they'll do a re-mortgage plan for their clients, they will still probably consider another 2nd chance or perhaps 3rd chance....repossession is a bit too harsh to hear it coming frm HDB...

like most advice...HDb tak akan reposses the hse...they will give u time n leniency for discussion...- DO NOT IGNORE if HDB ask to come down.......they will be able to help u wif if u hv difficulties wif pymt......

a true case fr someone i noe........there is always room for neg.......

[dee.anna]

like most advice...HDb tak akan reposses the hse...they will give u time n leniency for discussion...- DO NOT IGNORE if HDB ask to come down.......they will be able to help u wif if u hv difficulties wif pymt......

a true case fr someone i noe........there is always room for neg.......

I agree with this. HDB will help to refinance - provided u turun (just go to the nearest HDB office) and talk to them.

[ChocoLatte]

yep that's true...my uncle, he was out of job for a couple of months so no CPF contribution, so what he did was go down to talk to HDB and asked to pay 100 a month for 1 year...after he found a job, they resumed the installments...

[baby shah]

  Tis uncle of mine till nw unemployed & he has nt made any pymt yet to the HDB ... As for nw HDB has nt yet pester him .. Will sampaikan ur advice..

Btw, thks ceifro for the advise ..  kenapa PM .. share la wif all the ppl here.. 

[mudpie]

yep that's true...my uncle, he was out of job for a couple of months so no CPF contribution, so what he did was go down to talk to HDB and asked to pay 100 a month for 1 year...after he found a job, they resumed the installments...

seemingly there's empathy coming frm them....