Singaporean earning $2,500 monthly cannot obtain loan from HDB to buy flat

[makapaaa]

[h=2][/h]Posted by temasektimes on July 14, 2012

Buying a flat is a problem for me. I am self employed and my wife is a house wife. Earning about 30 k yearly but when I try to buy a flat and apply for housing loan eligibility, HDB ask for my bank statement.

After submitting my statement for 1 yr, they telling me my loan is not approve. Reasons is that I have not enough saving in the bank and HDB cannot give me a loan. They want me to have constant of saving in order to obtain a loan from them afraid that I will not pay for the loan. They are telling me HDB is only giving loan to those who is rich and to those who put their saving in the bank.

In the first place if I have the cash I will not need to apply a loan from HDB and I will buy a condo or bungalow already. In the newspaper, I can see advertisement that family enough $900 per month can buy a flat and get a loan from HDB. Now I earn $2500 cannot get a loan from HDB.I need to save up a year to show them in order to obtain a loan from them.

My wife and mother is not getting along very well, we often quarrel over housing matters but I got to wait for 1 year to obtain a loan. Hopefully, we can go through this 1 year, if not I will have to divorce over this housing matters and my daughter will have to grow up in a broken family. If all this will to happen , I will thank the govt and HDB for letting all this to happen.

Wish me luck!

SPENCER SIM

*The above was first posted as a comment on PM Lee’s Facebook.

 

[RWSSLOTS]

he should go see your MP especially COWdung and spit at his fucking ugly fuck up cancer infested face.
or go see Kee Chiu and mastubate his cock...maybe your application for loan will be approved

 

[Leongsam]

My wife and mother is not getting along very well, we often quarrel over housing matters but I got to wait for 1 year to obtain a loan.

I'm flabbergasted. Now the govt is being blamed for the marital problems of loser sinkies. What will they think of next.

 

[Fishypie]

ApparentLy HDB is tightening the reins, too much backLog of instaLLment arreas from the dweLLers.Hence they are
asking for some form of 'security deposits' to be seen 1st from new buyers..

 

[Narong Wongwan]

Take loan from bank lor....higher interests and repossession when default....

 

[Cruxx]

ApparentLy HDB is tightening the reins, too much backLog of instaLLment arreas from the dweLLers.Hence they are
asking for some form of 'security deposits' to be seen 1st from new buyers..

But how is that possible? Singapore is such a rich cuntry. It has the highest density of millionaires in the world you know.

 

[Fishypie]

But how is that possible? Singapore is such a rich cuntry. It has the highest density of millionaires in the world you know.

..but those miLLionaires couLd be just within the 5-8% range; majority are coping with bread & butter issues.:(

 

[chupacabra]

Some sinkies so dumb. Everyone saw it coming 20 years ago. Yet there are sinkies who only now wanna complain about the affordability of housing in peesai. i say too late liao.

 

[chonburifc]

Earn 2.5 K per month and have 2-3 mouths to feed. Wife and Mother still want to fight with each other??

 

[hokkien]

Knn never know that hdb tighten the rules so much :(

 

[Fishypie]

Knn never know that hdb tighten the rules so much :(

Which means you dont stay in HDB ?, then you must be camping fuLLtime in Changi beaches ?..

 

[Television]

Most likely a typical low income sinkie trying to apply for a 5room flat instead of a 1 or 2 room-Flat.
Look at @Buikia for etc.. He lives under the poverty line but he is realistic, So instead of purchasing a home he rents a 2room flat from HDB instead.

 

[Townair]

Maybe HDB is encouraging wife to live with mothe-in-law...

 

[hokkien]

Bro Of coz I live in hdb flat,1room 1 hall bought it 16 years ago liao.Never follow up new rules since than.

Which means you dont stay in HDB ?, then you must be camping fuLLtime in Changi beaches ?..

 

[Fishypie]

Bro Of coz I live in hdb flat,1room 1 hall bought it 16 years ago liao.Never follow up new rules since than.

At Least you are safe & dry.Spare some thoughts for these peopLe now; reaLLy getting more & more jiaLat.

 

[hokkien]

Agreed bro,buying a hdb flat now is different from last time

At Least you are safe & dry.Spare some thoughts for these peopLe now; reaLLy getting more & more jiaLat.

 

[gz0707]

the price vs 10 years ago is at least twice in some cases. that makes you in debt for a super long time.

 

[zhihau]

Take loan from bank lor....higher interests and repossession when default....

bro,
is it true that bank cannot repossess HDB?

 

[gz0707]

bro,
is it true that bank cannot repossess HDB?

from what some banker said. HDB dumped the works onto pte banks, who have no issue repossessing flats. now it becomes a purely commercial issue.

 

[Narong Wongwan]

bro,
is it true that bank cannot repossess HDB?

Banks can repossess....I heard average one year default they foreclose liao....and occupants will be homeless....how they put the flat up for sale again to recover the monies this I am not sure though