[COLOR=_______]Bro, does this person look like an FT? Since when Gahment give work passes to a 70+ year old?[/COLOR]
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National Day Rally 2009 (Kojakbt Version)
- Thread starter kojakbt
- Start date
[COLOR=_______]Bro, does this person look like an FT? Since when Gahment give work passes to a 70+ year old?[/COLOR]
Here, this piece of news credible enough for you?
http://www.asiaone.com/Business/My%2BMoney/Property/Story/A1Story20090816-161380.html
Mon, Aug 17, 2009
The New Paper
Their spiral into the streets
RISING property prices have a way of blinding you to stark realities like affordability.
Just ask Mr Mohamad Rafi and Madam SBagam.
Their stories are similar - they bought HDB flats they couldn't afford and when they fell behind on payments, they made poor decisions, sometimes based on wrong advice.
Read all the stories:
» Her descent into the van
» So what can we do for them?
They claimed that housing agents told them to sell their flats and pocket the profit, then get rental flats.
But HDB rules do not allow someone who sold a flat in the open market to get a rental flat until 30 months after the sale.
Increasing demand for rental flats also means they have to join a queue, says HDB.
Meanwhile, they run out of money and end up homeless.
The problem has raised concern in the Malay-Muslim community, with the Minister for Muslim Affairs, Mr Yaacob Ibrahim, recently mentioning a need for the Malay community to exercise financial prudence.
He said last month: 'There is enough evidence to suggest that the Malay community is overstretched.
'They have extended themselves in terms of credit, buying homes beyond their means... there is a downward spiral effect.'
Mr Mohamad Rafi used to earn $2,800 a month as a forklift driver. He didn't get any CPF contribution, had little savings, but the 30-year old newlywed didn't think twice before buying a four-room flat for $244,000 in Clementi in the open market.
He used $29,000 from his CPF savings from his earlier jobs and took a HDB loan, repaying $900 a month.
That was in 2000 and the economy was booming.
But, as the economy slowed, he was retrenched after his company went bust in 2004. He managed to get another job as a forklift driver, but at just $1,200 a month (without CPF contribution).
By then, he and his homemaker wife had two children.
As his debts spiralled out of control, his HDB repayments dwindled to irregular payments of $200-$400.
'There was no way I could afford the flat anymore,' he said.
Within three years, he ran up arrears of $20,000. After repeated reminders, HDB sent him an acquisition letter in 2007 along with a court order.
He was told that if he wanted to keep his flat, he had to pay up half of his arrears.
'Where to find $10,000 like that?' he said.
Grace period
Desperate, he sought the advice of a property agent friend who told him that he could seek an MP's help to ask for a grace period.
He was granted 10 months' grace and was advised by his friend to sell his flat in the open market.
At end 2007, he sold his flat at a loss of $19,000 and had hardly anything left after settling his arrears.
With no money and no home, two children and his wife pregnant with their third child, he was at his wits' end.
His parents' flat in Bukit Panjang had been sublet, he said. So the family headed to Hawaii Hostel in the Bencoolen area where they paid $36 a day for a simple air-con room and free breakfast.
The family of four squeezed into a double bed.
'It was so cramped, I was sleeping like a mummy,' he said.
In March last year, his parents asked him to move in with them after the subletting period ended.
But shifting to his parents' flat came with a hefty price.
He had to quit his job to take his 62-year-old mother to the National Kidney Foundation dialysis centre in Toa Payoh thrice a week
Why didn't he ask his wife to take his mother for dialysis? He claims she was busy looking after the children.
He also had to help his father, then 65, sell ice-cream on a pushcart, for which he got $15 to $25 a day.
After a family dispute in March this year, he left his parents' home. Now with a 5-month-old daughter, the family of five had to put up at his father-in-law's rental flat in Bukit Merah.
With no income, he could not support his family and even took his children out of school.
His first daughter was in Primary 1 while his second was in kindergarten.
He returned to Hawaii Hostel last month but left after five days because he could not pay the bill.
For the past month, his family have been roaming the streets in the Bugis area in search of shelter.
They have spent nights outside Fu Lu Shou Complex, Sim Lim Tower, Sim Lim Square and Burlington Square.
On Wednesday night, they rested in the 24-hour McDonald's outlet in Bugis.
'People come to McDonald's to eat, but for us it is where we sleep,' he said.
He now works at the Thieves' Market in Sungei Road as a driver-cum-helper for one of the hawkers.
He now regrets buying his flat without anticipating that his financial situation could change.
Asked whether he felt ashamed, he said: 'What to do, it's our reality now.'
Nurul Asyikin Mohd Nasir, newsroom intern
.
THX a lot!
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