Sears (Ang Mo Kio): 1 unique option to solve the problem?

June 19, 2022

https://www.facebook.com/laoliang/posts/7840999915917851

There have been several media reports and social media reports, discussions, etc, in recent days
I believe no one has mentioned the exploration of the possibility of another alternative option or solution – enable the affected residents to take up another housing loan for any shortfall, for another 25 years, without the normal restrictions and eligibility criteria, like age, income, etc
For example, if the housing loan for the shortfall, is $100,000 – the monthly mortgage repayment, at 2.6% interest rate, is $464 (and allow the use of CPF and/cash)
The resident and/or her family members may be able to afford this
If banks are allowed to and want to do this – the monthly mortgage may even be lower, at $426 (2.05%), as I understand that the banks’ HDB housing loan rate has always been lower than the HDB’s 2.6%, since banks were allowed to offer HDB loans from 1 Jan, 2003, about 19 years ago
In this connection, for example, I understand that there is one resident who is over 70 years old, with a shortfall of about $100,000
May be an image of text that says 'Offer residents another housing loan for any shortfall, for another 25 years, without the normal restrictions and eligibility criteria, like age, income, etc SEARS (ANG MO KIO): 1 UNIQUE OPTION TO SOLVE THE PROBLEM? Housing loan The If banks allowed to & shortfall resident want to do this- monthly mortgage $100,000: and/or her lower $426 (2.05%), monthly family understand banks' mortgage HDB loan rate always members lower than HDB's 2.6% $464 (& & may be 2.6%, since banks allow use able to were allowed to offer CPF cash) HDB loans from 1 Jan, this 2003 aoro'
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About the Author

Leong
Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.