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I've to take over my dad's housing loan! Can Tin Pei Ling Help?

makapaaa

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<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead vAlign=top><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>kojakbt89 <NOBR></NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>Mar-31 8:20 pm </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 20) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>46893.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>When the Home Becomes Hell

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April 1st, 2011 |
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Author: Contributions |
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My family of four is modest. My father is the sole breadwinner earning about just over $2000 a month. He was from the baby boom era and his highest education are O-levels. I’m the eldest daughter currently in my second year of studies in a local university. My home is a resale 5-room HDB flat. My mum’s CPF is almost wiped out from having to pay her share of the housing loan. She like many women used to work
however stopped work to look after her growing kids. My mum stopped work once my youngest sister started P1. Education is competitive now. Too much external influences. Its easy for a child to be derailed so I honour my mother’s decision to be a homemaker so she can fully care for her children.
Now my dad having worked since he finished his NS; CPF savings also depleting paying for the housing loan and he has to also pay for my mother’s share now. Possibly have to pay in hard cash. Where are we going to get the money from? Why must housing be so expensive for local true citizens especially? If my dad continues paying at this rate, he will have nothing for his retirement. Most likely I will have to take over the payment once I start working after graduating. How can I possibly save up then to get married or start my own family if I’m saddled with issues of this nature? I really do hope in the coming GEs the issue of housing will be addressed.
We younger generation can’t go on living like that. My mum is depressed now worrying for the house matters. Do the new fresh batch of PAP candidates know about all this issues facing the common man? I think not. They are born with a silver spoon. I contemplate quitting school now to help with my housing issues but my father is against it. If he wasn’t I won’t think twice about quitting because I simply cannot see
my parents worry.
Anyone else facing the same issues? My family is average. We don’t take holidays, we don’t eat out at restaurants, we don’t go on shopping sprees but why do we still find it tough to even just get by? Cost of living is too high and none of the new PAP candidates are doing anything about it.
.
Sonia Tan

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LeMans2011

Alfrescian
Loyal
Don't worry, just go to HDB and ask them to stretch the loan over 30 years. If you could not finish paying the loan, your children could always take over like you did with your dad's loan. This loan could be passed on for generations :smile:
 

Balls2U

Alfrescian
Loyal
[video=youtube;B_6x_5J78Rs]http://www.youtube.com/watch?v=B_6x_5J78Rs&feature=related[/video]
 

Costanza

Alfrescian
Loyal
tpl: work hard...then you can survive & do well one lah...anyway everything very low costs in sg leh
 

jw5

Moderator
Moderator
Loyal
tpl: work hard...then you can survive & do well one lah...anyway everything very low costs in sg leh

tpl: Or you can always marry a top civil servant more than 10 years older than you. I already told the hawkers to keep their prices fixed. As to how they cope with rising rent and raw materials, I don't know what to say.

costanza: Or you can always marry a rich woman and ask her to lick your wedding invitations. :biggrin:
 

PRONTO01

Alfrescian
Loyal
Hi All,

I have a similar situation and that forces me to get out of my safety shell and share with the all of you. I have been reading or rather been so interested in this site for years but was always a non-partisan. But Sonia's story hits me so personally that I want to tell her she is not alone. My Dad just passed on last Month and My Mum is fighting for her life right now. When dad was alive he helps me pay for the maid so that I can continue to pay for the hdb loan. It has soon depleted and and since two months ago I have been coughing out cash to pay for the loan. My Mum's Medisave is completely depleted and have been using my Medisave to pay for her medical bills. I am nearing my retirement soon and My CPF is as good as gone as I won't live to see it perhaps my benefactors. Is this the kind of life I have to leave in this Country I call home? I served the Civil Service for the past 30 odd years and I lost my marriage because I believed in Duty Honour Country...but my Boss told me that there is a chinese saying...its Family first then Duty honour Country...I feel sad that I am wrong for thinking otherwise. Just sharing my thoughts and I wish those standing for the opposition who are upright, honest and please do not be swayed by Power, greed, money but help the People who help build Singapore and are dying due to old age and Nobody can help them but themselves because they trusted and love the party but not their Country :(
 

pwchong

Alfrescian
Loyal
i can almost predict their answer to your problem... go and downgrade .... so i hope you will not look to them for a longterm solution to your problem
 

Cruxx

Alfrescian
Loyal
You never actually own a HDB flat. You merely look after it for the next generation :rolleyes:
 

borom

Alfrescian (Inf)
Asset
Whilst there's plenty of talk about how high the prices of HDB (99 leasehold) flats can go, almost nothing is said about whether the
structure itself can last 99 years.Problems of spalling concrete surfaces within 3 to 5 years and fittings started to rot after 10 years.

Many still live in a fantasy world of non stop rise in HDB prices despite shorter and shorter remaining lease and weaker and weaker structures (as the interest payment continue to climb ).How long can these ridiculously low interest rates remain?
?
Can they use SERs for all HDB flats and what would be the burden for those who have to pay for new flats just as they thought they are seeing the light at the end of the mortgage tunnel.
 

Confuseous

Alfrescian (Inf)
Asset
Tin tin: I don't know what to say....:wink:
Everything so affordable.

Tin Tin - I hope you are aware that it is not the problem of the government if your father decides to leave you in the lurch. It is never the government's fault, you know? Go to youtube, google my name and you will find the video.
 

neddy

Alfrescian (Inf)
Asset
[video=youtube;B_6x_5J78Rs]http://www.youtube.com/watch?v=B_6x_5J78Rs&feature=related[/video]

Huh? Still got people earning only $2k a month. What happen to all the extra training given by NTUC for him to upgrade his pay.

Why no insurance ?

Maybe can sell the flat and move in with relatives.

Aiyoh, I do not know what else to say. You poor people are so problematic.
 

neddy

Alfrescian (Inf)
Asset
Hi All,

I have a similar situation and that forces me to get out of my safety shell and share with the all of you. I have been reading or rather been so interested in this site for years but was always a non-partisan. But Sonia's story hits me so personally that I want to tell her she is not alone. My Dad just passed on last Month and My Mum is fighting for her life right now. When dad was alive he helps me pay for the maid so that I can continue to pay for the hdb loan. It has soon depleted and and since two months ago I have been coughing out cash to pay for the loan. My Mum's Medisave is completely depleted and have been using my Medisave to pay for her medical bills. I am nearing my retirement soon and My CPF is as good as gone as I won't live to see it perhaps my benefactors. Is this the kind of life I have to leave in this Country I call home? I served the Civil Service for the past 30 odd years and I lost my marriage because I believed in Duty Honour Country...but my Boss told me that there is a chinese saying...its Family first then Duty honour Country...I feel sad that I am wrong for thinking otherwise. Just sharing my thoughts and I wish those standing for the opposition who are upright, honest and please do not be swayed by Power, greed, money but help the People who help build Singapore and are dying due to old age and Nobody can help them but themselves because they trusted and love the party but not their Country :(

Shit. Another sob story. What can the PAP do. You should have bought insurance. I think I need a rich constituents.
 
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