Penalty for acquiring another passport

[neddy]

You know, if you don't know what's happening... then in Singaporean term... just shut up.

Of course, I don't know Jeb Bush... of course, I don't know Harry Reid... you don't get the joke? Man, that's why you're Leongsam. Of course, you believe everything that Aussie Prick says. Nice.

FYI, I ran for the Kansas and Oregon State Senates before....... I lived in the U.S. for many years already..... I met Jeb Bush (at a business function) and I don't even think he'll remember me. But that's not the point. The point is, you should keep out of other's people business.

Strange. I also have dinner with Obama.
Just that his middle name is not Hussein.

 

[londoncabby]

Strange. I also have dinner with Obama.
Just that his middle name is not Hussein.

This fellow livingstine got caught out so many time by Ah Sam, aussie and others here

Just ignore one then soon go away

 

[AhSo1]

Ya If Australian people were smart they would come take advantage of how cheap america is right now. That one Australian family there are gonna get muy rico if they buy.

But with idiots like Livingstone the moron who no doubt got suckered into a subprime mortgage this dimwit is probably living in a trailer park now surrounded by gun loving idiots who voted for McCain and this Saudi Arabian's wet dream Sarah Palin who no doubt loves her fellow republican gun slingers like Ron Paul a supporter of guns and since Sarah Palin loves to shoot animals in Alaska, this is why america is in trouble. i bet you ron paul and sarah palin would have a great time showing off each other their gun collections and discussing how many deaths they have caused hunting or talking about how their favorite church preacher is doing or discussing how every oil company should be drilling in the ANWAR and polluting the earth or how we should all just pay less taxes and to hell with fiscal responsibility or maybe even how abortion is just plain wrong. But people like livingstone the moron are too stupid to know anything because they cant even tell the difference between George H W Bush and George W. Bush - which says it all.

As for liability of walking away from a mortgaged house it happens for many reasons. either they can no longer afford it, or they owe more than its worth or an investor who owns too many. there are loopholes here where people abuse the system. to these people walking away its easier because in foreclosure the bank legally repossess the house and the bank puts it on their credit report which stays there for 7 years. but here there are ways and programs such as FHA where with certain requirements you can buy another house in less than 7 years and get a mortgage through uncle sam.

for the bank to get any shortfall they have to pursue you after the foreclosure in another action and get a deficiency judgment against you. these days in this economy its not that common but it does happen.

anyway hope this helps

Its a given that its a buyer's market now in the United States. I too have seen reports of wealthy Europeans purchasing Miami Luxury Homes on the cheap. Such lovely homes. Problem is geographically its not convenient for those in South East Asia. However, for those willing to venture off the beaten track I am confident they would prove to be excellent investments in the long term.

I am surprised to see banks in the United States are not pursuing every legal avenue available to claim for losses incurred after disposition of assets following a foreclosure sale. That is most probably the difference right there as the banks in Singapore will not cease action upon property repossession should monies still be owed after auction.

I am astonished and intrigued by the practices of American law;its quite different that ours.

 

[AhSo1]

This fellow livingstine got caught out so many time by Ah Sam, aussie and others here

Just ignore one then soon go away

One might be inclined to confuse livingstine with philistine. A simple request to the forum administrator to ban this pest should take care of the problem.

 

[scroobal]

The term you are looking for is non-recourse loans. Its available the world over but seldom in retail mortgage market. The US does it but not Singapore and many others.

Its not only those who were unable to make payments that abandoned their properties. There were those who handed it back to the bank and picking another similar or even bigger property when it bottomed out. These were usually business people who are able to repair their credit at an appropropriate and "convenient" time.

In the US, one has to remove all semblence of the commonwealth system to play the property market.

There are couple of features of the property market in the US that differs from us and those that offer recourse loans such as most countries.
- property asset is a much smaller part of a family asset portfolio.
- you will see people in the 25 to 55 age group relocate often usually every 3 years
- happy to take 2nd and 3rd mortgage on the same home.
- relocating from state to state
- very small downpayment or smaller equity which ties in with multiple mortgages so that they can abandon it when it turns south.

However the usual adages do apply
- worst house in the best street
- pay for land and not the house

The best position is to acquire quality property in the Eastern states but stay in the west for a great lifestyle. California is where the 1st downturn always begins.

Most Singaporeans migrating to the US tend to buy a huge property even though their income is much lesser than their neignbours. It also happens to other migrants as well. Eeventually they will change.

I am surprised to see banks in the United States are not pursuing every legal avenue available to claim for losses incurred after disposition of assets following a foreclosure sale. That is most probably the difference right there as the banks in Singapore will not cease action upon property repossession should monies still be owed after auction.

 

[neddy]

In the US, one has to remove all semblence of the commonwealth system to play the property market.

Most Singaporeans migrating to the US tend to buy a huge property even though their income is much lesser than their neignbours. It also happens to other migrants as well. Eeventually they will change.

*Detour*

Sound to me like something that came out of the New Deal or the Chapter 7.

But the risk of the US States defaulting on their bonds is pretty high now. Unlike the Fed, the states cannot print money to solve their deficits.

Also, we can wonder into Detriot and find all funny kinds of financial debt instruments.

I wonder if this is the end of the US easy-liberal financial policies.

Back to basic - Debt is a good servant but a bad master!

 

[scroobal]

Its the ultimate capitalist model where huge risk for huge gains.

*Detour*

Sound to me like something that came out of the New Deal or the Chapter 7.

I don't think so. The corporate lobby group is very strong and little can be done. Well said about Debt being a good servant and bad master. The trick is think as an individual rather than follow the country which most astute people do in the american context.

Corporate Finance is get the fees and not the risk. Its the same with mortgage brokers and financial planners. These 3 vocations were fastest rising in the financial sector.

I wonder if this is the end of the US easy-liberal financial policies.

Back to basic - Debt is a good servant but a bad master!

 

[neddy]

Corporate Finance is get the fees and not the risk. Its the same with mortgage brokers and financial planners. These 3 vocations were fastest rising in the financial sector.

That is why Bennie the Great Depression expert, came out with the most contradictory word, GREEN SHOOTS. It is to support the financial sector!

Unfortunately, the US is still playing super hero with unconventional solutions that are continuing to destablise the housing market.

What a mess.

 

[axe168]

However the usual adages do apply
- worst house in the best street
- pay for land and not the house.

Yes, yes ! Yahooo ! I'm going into my next phase.. Bob-the-DIY-builder.. Any advice shld i install a ceiling fan for my leisure

 

[ponzii]

Yes, yes ! Yahooo ! I'm going into my next phase.. Bob-the-DIY-builder.. Any advice shld i install a ceiling fan for my leisure

You stare cieling fan for 6 hour everyday, should know how to install by now sotong....

 

[axe168]

You stare cieling fan for 6 hour everyday, should know how to install by now sotong....

I asked should I install a ceiling fan.. not how to install a ceiling fan... blurr like sotong.. heehee

 

[ponzii]

I asked should I install a ceiling fan.. not how to install a ceiling fan... blurr like sotong.. heehee

Should you install something you stare at for 6 hour everyday?

blur x 10 is you king of sotong

 

[neddy]

Yes, yes ! Yahooo ! I'm going into my next phase.. Bob-the-DIY-builder.. Any advice shld i install a ceiling fan for my leisure

Remember I told you about Perth property prices. I was wrong.

Perth's average house price has jumped 3.5 per cent in the past three months. Data from the Real Estate Institute of WA shows the average house price in the city last month was $445,000, about $15,000 higher than in March.

(Aussik Pig will be kept awake with this bad news)

 

[axe168]

Remember I told you about Perth property prices. I was wrong.

Perth's average house price has jumped 3.5 per cent in the past three months. Data from the Real Estate Institute of WA shows the average house price in the city last month was $445,000, about $15,000 higher than in March.

(Aussik Pig will be kept awake with this bad news)

Hey, like i said.. never under estimate Australia's economy. There is a serious shortage of house supply and the super rich china-nese are heading to US & Aust... Oz economy for the moment may/may not be in recession.. but i expect it to be a 'V' shape recovery. I have very reliable reports. Avg Eastern areas within 10km from CBD will have a medium price of 2-4mil ! (Juz like Dist 9,10 & 11). Get 'in' before it is too late !

Few mths back I randomly negotiated a deal.. a retail ppty with 6.5% yield trying to sell me at 900k.. I countered offer for 580k + (or abt 8-10% yield), hehe.... Last week i received his call to re-negotiate but too late liao, I've committed somewhere else.. KNN.. was hoping for fire sale..

 

[eatshitndie]

Hey, like i said.. never under estimate Australia's economy. There is a serious shortage of house supply and the super rich china-nese are heading to US & Aust... Oz economy for the moment may/may not be in recession.. but i expect it to be a 'V' shape recovery. I have very reliable reports. Avg Eastern areas within 10km from CBD will have a medium price of 2-4mil ! (Juz like Dist 9,10 & 11). Get 'in' before it is too late !

Few mths back I randomly negotiated a deal.. a retail ppty with 6.5% yield trying to sell me at 900k.. I countered offer for 580k + (or abt 8-10% yield), hehe.... Last week i received his call to re-negotiate but too late liao, I've committed somewhere else.. KNN.. was hoping for fire sale..

the last few times the so called globally mobile "super rich" unscrupulous chinese did that was in the boom and bust of vancouver in 1997 and recently in the bursting of the housing bubble of california in 2007. they speculate, buy and sell in such frenzy that if you don't have the huge stash of cash like they do, don't even contemplate playing in the same arena. these are gamblers. and they don't respect real estate for the long term. they only think short term gains. and they will burn you. where ever they go to, sell and run away from them. these are the modern day world destroying ugly aliens who invade neighborhoods and lay devastation where ever they go. they won't have pity on you when they leave you with properties way below the bubble values that they fraudulently create.

 

[Aussie Prick]

Remember I told you about Perth property prices. I was wrong.

Perth's average house price has jumped 3.5 per cent in the past three months. Data from the Real Estate Institute of WA shows the average house price in the city last month was $445,000, about $15,000 higher than in March.

(Aussik Pig will be kept awake with this bad news)

Yes down from 550K to 445K OUCH!

In October homebuyer grant finish.....OUCH!

90%+ of all house purchases 2009 first time homebuyers, stimulus effect

OUCH OUCH OUCH OUCH

 

[Aussie Prick]

Hey, like i said.. never under estimate Australia's economy. There is a serious shortage of house supply and the super rich china-nese are heading to US & Aust... Oz economy for the moment may/may not be in recession.. but i expect it to be a 'V' shape recovery. I have very reliable reports. Avg Eastern areas within 10km from CBD will have a medium price of 2-4mil ! (Juz like Dist 9,10 & 11). Get 'in' before it is too late !

Few mths back I randomly negotiated a deal.. a retail ppty with 6.5% yield trying to sell me at 900k.. I countered offer for 580k + (or abt 8-10% yield), hehe.... Last week i received his call to re-negotiate but too late liao, I've committed somewhere else.. KNN.. was hoping for fire sale..

Yes never under estimate you losses and bullshit here. We still have the old forum to check the dates of your bullshit to see how much money you have lost

In Perth Prices down from 550K plus to 445K median.

And you stimulus ending in October

Bank calling you soon......hope you have good bankruptcy lawyer

 

[axe168]

the last few times the so called globally mobile "super rich" unscrupulous chinese did that was in the boom and bust of vancouver in 1997 and recently in the bursting of the housing bubble of california in 2007. they speculate, buy and sell in such frenzy that if you don't have the huge stash of cash like they do, don't even contemplate playing in the same arena. these are gamblers. and they don't respect real estate for the long term. they only think short term gains. and they will burn you. where ever they go to, sell and run away from them. these are the modern day world destroying ugly aliens who invade neighborhoods and lay devastation where ever they go. they won't have pity on you when they leave you with properties way below the bubble values that they fraudulently create.

Yes, these ppl have heaps of hard cash to burn.. The money that they obtained are "dirty" money, hence need to dispose off at the quickest way. China-nese like to stay close to each other by paying top dollars. I would avoid those area at all cost. Over here, I can see the impact the moment they land.. I wonder what would happen to the world with the invasion of Chinese.

Fear for the PAP ? Hmmmm, I'll say FEAR for the China-men.

 

[axe168]

Yes never under estimate you losses and bullshit here. We still have the old forum to check the dates of your bullshit to see how much money you have lost

In Perth Prices down from 550K plus to 445K median.

And you stimulus ending in October

Bank calling you soon......hope you have good bankruptcy lawyer

Oh yes.. I lost my pride for the initial 6mths, thereafter it is a route for no-return (for me). I hope this will give you a good indication which is better.

In a business venture, I'm sure there is profit and loss.. I hate to be an employee forever, thus I am making my efforts to be a successful chicken seller.. Bankruptcy ? no for the moment..

 

[Aussie Prick]

Oh yes.. I lost my pride for the initial 6mths, thereafter it is a route for no-return (for me). I hope this will give you a good indication which is better.

In a business venture, I'm sure there is profit and loss.. I hate to be an employee forever, thus I am making my efforts to be a successful chicken seller.. Bankruptcy ? no for the moment..

Oh yes that's right you were going to be a pimp and run some women. You forgot to mention the racial rioting going on their in that shit country where GST is 10% and the taxes will give you a heart attack.

What a goddam joke.