HDB Lease Buyback Scheme kicks off

[Conan the Barbarian]

SINGAPORE : Singapore’s Housing and Development Board Lease Buyback Scheme started on Sunday, after two years in the works.
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Five applications were received in the first hour.

The scheme is designed to help cash—poor, asset—rich seniors meet their retirement needs.

72—year—old Koh Chiong Eng is afraid he may lose his petrol pump attendant job soon because of his age.

If that happens, meeting daily expenditure will become difficult, as his wife does not work.

Hence, they were among the first in Singapore to sign up for the Lease Buyback Scheme — where HDB buys back the tail—end of the lease of their flat, leaving them with a shorter 30—year lease.

They will get a first—time payout of S$5,000, and monthly payments of about S$600 till death.

The amount is calculated based on the estimated valuation of their their—room flat — at S$236,000.

The payout varies depending on the valuation of the flat, done by independent assessors.

An estimated 25,000 households are eligible for the scheme, and concerns have been raised about some seniors’ reluctance to part with their properties.

But it is not an issue with Mr Koh.

He said: "I can’t take the flat with me if I die. It is better to sell it to the government and get money to meet my daily needs."

Some seniors are also reluctant because of the Asian value of leaving property to their children. Commenting on the issue, National Development Minister Mah Bow Tan said: "I hope at the same time, their children will also look after them. But you and I know that this is not a given."

Seniors will get to stay in their homes for 30 years after they sign up. And if they are still alive after the 30—year lease, alternative arrangements such as nursing home stays, will be made for them.

Mr Mah said: "The benefit of the scheme really is, you stay where you are and you get a rental income. My instruction to HDB is to make sure that as many eligible elderly households as possible are familiar with the scheme."

So HDB will organise exhibitions at 11 towns with a high elderly population.

Officers will also go door—to—door to invite the elderly to the exhibitions.

To be eligible, home owners must be aged 62 and above, enjoyed only one housing subsidy, and almost paid off their home loan.

The scheme is not open to those living in four—room or larger flats. Mr Mah said this is because they have the option of downgrading to unlock the value of their homes, and get cash. But he said HDB may consider extending the scheme to them, if there is sufficient demand. — CNA/ms

 

[myfoot123]

This is a sure win situation for HDB. If the flat is worth $230K, and the person die within 10 years after applying for the scheme. It comes to less than $100K the poor received and the remaining $130K HDB swallow all? Nothing left for the children?

 

[makapaaa]

It could be worse, OK? *chey*​

 

[myfoot123]

Why LHL always crossed legs.

 

[londoncabby]

This is also known as a reverse mortgage

 

[makapaaa]

Why LHL always crossed legs.

http://www.essortment.com/articles/women-sitting_4626.htm

When sitting, a woman tends to cross her legs. But should we? According to Maura Graber, who has been teaching manners to children and adults for 15 years and is the director of The R.S.V.P. Institute of Etiquette, says, "When sitting, a woman should cross her legs at the ankles. For one thing, by crossing one's legs at the knees, one is cutting off circulation and can end up with spider veins. It is not considered lady-like to cross one's legs at the knees, especially if one is wearing a short skirt."
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To further elaborate, "spider veins" are red or blue short jagged lines that look like tree branches or spider webs. Veins have valves that prevent blood from flowing backwards as it moves up the legs. If this valve is weakened in anyway, due to lack of circulation, hormone changes or exposure to the sun, the blood collects back in the vein. Experts also think that hereditary factors can increase you chances of developing these nasty little buggers. To prevent them when sitting they advise you to not cross your legs at the knees, do not wear tight slacks or tights that constrict your skin, and get up at least every thirty minutes to walk around. You can also invest in some good elastic support stocking if you think they may become a problem in the future. There are treatments available for spider veins but most, if not all, of them cost a lot, can be quite painful, and are not 100% effective. Prevention is always the better route.

Besides the health problems that it could cause, crossing your legs is just not very comfortable or aesthetically pleasing. A woman tends to do it out of habit. As we all know, the pressure and the tingling afterwards can be quite unpleasant. Even though many movies tend to zoom in on the sight of a woman's nylon encased leg being sensually draped over the equally tan match, in real life others do not always glance over in the "correct camera angle", the lighting is often poor and there is no real life air brushing for the very real bulges sitting in this way creates.

Another way some women tend to sit, since the appearance of jeans is with their legs spread apart. This is never in good form when it comes to proper etiquette. As long as your demeanor is one of openness you'll easily be viewed as "laid back" as well as classy if you sit properly. It is true that you shouldn't compromise your comfortableness for the sake of propriety but you also shouldn't compromise your femininity for the sake of the world's changing views.

To break any bad habit a woman has when sitting, she needs to practice the correct way of crossing her legs. If you are one of these women, you can do this while typing at the computer, when eating a meal, or even while watching TV. At first it might feel uneasy, but remember that this is only temporary. It truly is a more comfortable, not to mention lady-like, way to sit. It's just different than what you are used to.