bepgof

Be it Equity Home Financing(UOB) or Assetline(DBS), they are actually a secured OD facility in principle. Banks can beautify this facility with many fanciful names but nature still the same - using borrower's assets (must be liquid enough to exchange into cash in case of default payment) as collateral. Lending bank does risk assessment onto borrower's assets, financial liabilities, earning power...to determin approve credit limit. Assets' type & nature determine the the interest rate, so all these need to be customised and take time to process. Interest will be charged for amount used. Singapore law allows no partially paid property to be used as collateral for application of secured OD facilty under 2 different lenders(creditors). Reason is obvious in case borrowers run into bankruptcy. One can't use fully paid HDB unit as collateral for applying secured OD facility - I "think" so, because if one lands into bankruptcy, creditor can't force sell the unit under HDB rule. Singapore allows insurance and re-insurance business, but no "re-mortgage" and "re-re-mortgage" on property. The 3 cows story tells the pitfall of such. Another area of concern is the "effective interest rate". CPF OA's 2.5% is "monthly-rest", if apportion it to "yearly-rest" would be 2.53%. Likewise, believed the secured OD facility's interst calculation model is based on "weekly-rest" - used amount has to be top up within a week, if not (interest +used amount) would be added on and on every week, this is a typical case of licensed ah long. Only " super desperator" will engage in secured OD facility.

It is not a loan but called "secured overdraft facility". All full-licensed banks have this product/service. It has to be customised based on one's assets & earning ability. One has to use either their FD, shares, or property(if not fully paid, cannot re-mortgage)...as collateral. Singapore's law not allow two "lenders" on one property which used as collateral. Singapore Post has the lowest interest rate of 1% per month or 12% per annum! This facility work much like "credit online", except needing collateral - one lump sum allocated, pay interest on used cash only. Not too sure whether the interest is computed based on daily-rest, weekly-rest or monthly-rest. The approval process may take some time.

I think likewise. Now fast hand fast leg patching up the "holes", not letting opposition have "holes" to shoot. CPF scheme's hole too big, cannot be patched up in time. This hole is getting bigger. Luckily Mr.Goodyear realised this and run away fast.

True that each has different financial needs & wants at different timing. Life is full of lots of uncertainties with many volatile "variables" which always intercorrelate to each others, whether in tangible or intangible forms, a major "wrong" move will lose the entire game. To stress, as singaporeans, always keep the HDB unit as it is your "right" and subsidised by gov in one way or another, foreigners can't "enjoy". "Fight" with foreigners in pte property when time's right, at same time enjoy the subsidy by gov.

Assume tenure=30yr, hdb concession loan at 2.6%, CPF OA at 2.5%. I work out a 3-year period for comparison: 1. For loan amount at 100K at 2.6%, the interest for first 3 years = $7543.03 2. For loan amount at 70K at 2.6%, the interest for first 2 years = $5280.11 You can save $ 2262.92 if loan 70k instead of 100k. 3. If put 30K in OA, after 3 years, would earn you interest of $2,334. Conclusion: you can SAVE $71.08 over the 3 YEARS(one yr SAVE $23.69), if you put 30K in OA & take mortgage loan of 100K. The interest earn on OA would be more over the next 27 yrs. The "resultant" saving would be more, question is: no one will know what would happen tmr. Can you wait?. For housing mortgage liability: always settle it as fast as you could. Investment can wait.

Here are the tables: work up to 10 yr (comparisor of OA vs loan of various interest) 1. 300k loan, 30yr tenure - provided OA principal & accured interest untouched and keep added on, then it is good to remain the sum in OA (see sht 4's accumulated ineterests after 10 yrs. http://img819.imageshack.us/img819/1341/lo...0k30yrpage1.jpg http://img825.imageshack.us/img825/3714/lo...0k30yrpage2.jpg http://img836.imageshack.us/img836/7541/lo...0k30yrpage3.jpg http://img691.imageshack.us/img691/1315/lo...0k30yrpage4.jpg 2. 300k loan, 10yr tenure.- save interest (loan) a lot more if pay fast. http://img411.imageshack.us/img411/8396/lo...0k10yrpage1.jpg http://img143.imageshack.us/img143/9172/lo...0k10yrpage2.jpg http://img715.imageshack.us/img715/3335/lo...0k10yrpage3.jpg http://img510.imageshack.us/img510/6862/lo...0k10yrpage4.jpg

I'm bo chap, don't bother of being accused "husband sings wife follows" and birds of same feather flock together: Not psalms but 传 道 书 Ecclesiastes chapter 1: By solomon, king of Israel, son of David. 1:1 在 耶 路 撒 冷 作 王 ， 大 卫 的 儿 子 ， 传 道 者 的 言 语 。 The words of the Preacher, the son of David, king in Jerusalem. 1:2 传 道 者 说 ， 虚 空 的 虚 空 ， 虚 空 的 虚 空 。 凡 事 都 是 虚 空 。 All is to no purpose, said the Preacher, all the ways of man are to no purpose. 1:3 人 一 切 的 劳 碌 ， 就 是 他 在 日 光 之 下 的 劳 碌 ， 有 什 么 益 处 呢 ？ What is a man profited by all his work which he does under the sun? 1:4 一 代 过 去 ， 一 代 又 来 。 地 却 永 远 长 存 。 One generation goes and another comes; but the earth is for ever. 1:5 日 头 出 来 ， 日 头 落 下 ， 急 归 所 出 之 地 。 The sun comes up and the sun goes down, and goes quickly back to the place where he came up. 1:6 风 往 南 刮 ， 又 向 北 转 ， 不 住 地 旋 转 ， 而 且 返 回 转 行 原 道 。 The wind goes to the south, turning back again to the north; circling round for ever. 1:7 江 河 都 往 海 里 流 ， 海 却 不 满 。 江 河 从 何 处 流 ， 仍 归 还 何 处 。 All the rivers go down to the sea, but the sea is not full; to the place where the rivers go, there they go again. 1:8 万 事 令 人 厌 烦 。 （ 或 作 万 物 满 有 困 乏 ） 人 不 能 说 尽 。 眼 看 ， 看 不 饱 ， 耳 听 ， 听 不 足 。 All things are full of weariness; man may not give their story: the eye has never enough of its seeing, or the ear of its hearing. 1:9 已 有 的 事 ， 后 必 再 有 。 已 行 的 事 ， 后 必 再 行 。 日 光 之 下 并 无 新 事 。 That which has been, is that which is to be, and that which has been done, is that which will be done, and there is no new thing under the sun. 1:10 岂 有 一 件 事 人 能 指 着 说 ， 这 是 新 的 。 哪 知 ， 在 我 们 以 前 的 世 代 ， 早 已 有 了 。 Is there anything of which men say, See, this is new? It has been in the old time which was before us. 1:11 已 过 的 世 代 ， 无 人 记 念 ， 将 来 的 世 代 ， 后 来 的 人 也 不 记 念 。 There is no memory of those who have gone before, and of those who come after there will be no memory for those who are still to come after them. 1:12 我 传 道 者 在 耶 路 撒 冷 作 过 以 色 列 的 王 。 I, the Preacher, was king over Israel in Jerusalem. 1:13 我 专 心 用 智 慧 寻 求 查 究 天 下 所 作 的 一 切 事 ， 乃 知 神 叫 世 人 所 经 练 的 ， 是 极 重 的 劳 苦 。 And I gave my heart to searching out in wisdom all things which are done under heaven: it is a hard thing which God has put on the sons of men to do. 1:14 我 见 日 光 之 下 所 作 的 一 切 事 ， 都 是 虚 空 ， 都 是 捕 风 。 I have seen all the works which are done under the sun; all is to no purpose, and desire for wind. 1:15 弯 曲 的 不 能 变 直 ， 缺 少 的 不 能 足 数 。 That which is bent may not be made straight, and that which is not there may not be numbered. 1:16 我 心 里 议 论 ， 说 ， 我 得 了 大 智 慧 ， 胜 过 我 以 前 在 耶 路 撒 冷 的 众 人 。 而 且 我 心 中 多 经 历 智 慧 ， 和 知 识 的 事 。 I said to my heart, See, I have become great and am increased in wisdom more than any who were before me in Jerusalem--yes, my heart has seen much wisdom and knowledge. 1:17 我 又 专 心 察 明 智 慧 ， 狂 妄 ， 和 愚 昧 。 乃 知 这 也 是 捕 风 。 And I gave my heart to getting knowledge of wisdom, and of the ways of the foolish. And I saw that this again was desire for wind. 1:18 因 为 多 有 智 慧 ， 就 多 有 愁 烦 。 加 增 知 识 的 ， 就 加 增 忧 伤 。 Because in much wisdom is much grief, and increase of knowledge is increase of sorrow.

The coffee you drank this early morning must have kept you HIGH till now with all sort of wild wild wild imaginations, from husband & wife to birds of same feather and doing flocking together. Owl brand?.

There is no new thing under the sun = history keeps repeating itself. Once over will comes/happens again. So nothing to be surprised of. Whether FS audit done or not, no "living happily forever after" mythology on earth, only have "small fires" and "big fires" on & off. Lives are all abt putting off fires and at times to generate fires, tio bo?

Beside singing, I can dance too. Let's sing along, dance and party time starts liao.

Must salute to yr wild imagination. Appreciate yr "good" intention.

Chrisop, My wife is rooster, me rabbit, we are in 6th-chong, meaning that we always "chong" in all aspects, according to chinese zodac/12 earthly branch explanations. She is the eldest of 2 and I'm #8 of 9, in respective family. Because of the "position" in her family, diverse cultural backgrounds, she has been used to make decisions and "lead" her family while I "follow" mine as they are 7 seniors ahead of me. She grow up in “city”(大玻),while I from “kampong”, anyway, she is 5 yr younger than I. This resulted me be “chin chye”, “carefree” & “bo chap” while she cares much of the “face”, “make nice cake”, “careful conversation with others”, “dominating”, “forceful”….. 2 individuals come from diverse culture, differing family background with different core values, when come stay together, always “chong”. Small “chongs” like : different ways of squeezing SAME tooth paste everyday, putting cups, plates, spoons, towel lah, too many to list, all these are “small fire spots” at different times. When time ‘right” become “big fire”. Big “chongs”(big fire) mostly related to family finance, ways of saving/spending $, relatives of each own. You may have not faced these yet. We’ve experienced all sorts of small & big fires, still in one piece till today. We (me & wife alone) fixed ourselves the wedding date on 13 March 1993 (sat), we made decisions as to which hotel, # of dinning tables, etc. I got big scolding from eldest bro/sis for not consulting them for invitation for their friends/relatives, anyway I bo chap their requests. We never informed my father-in-law abt the wedding, not even inviting any single souls from “his side”, as during that time, he was a classical & typical gambler with all the ah longs hassling the family members. Naturally, I invited wife’s mother & younger sister to stay with us right after our Chinese custom marriage, leaving FIL “at large”. Wife’s family was staying in rented hdb’s “1 room half hall” unit. I considered we’re blessed as we both attended “pre-marriage” counselling course so knowing the causes of “small & big fires” or “chongs” and some techniques to put off these fires. As time passes, we also attended post-marriage counselling course, just to refresh the skills & technique and be reminded of our marriage vow. Do more “deposit” than “withdrawal” habits in marriage account, look at round marriage ring and not just remembering the vow but to put into action. Make yr next half aware of such and do the same. FS is not a "cure it all" mean, nor a "set and do nothing but wait for good result" methodology, it needs human's actions to complete. Remember the story of farmer sits under tree awaiting for rabbit to run into tree trunk?

Fate is always like that: when one short of certain ability, he will strengthen other abilities just for survival..... No limbs- use mouth to hold painting brush to paint pictures, till swee swee. No paper qualification, chiong pte sectors and become boss on one's own one day! Got paper qualification - mostly get stuck with 9am-5pm work. Entrepreneurship die liao.

I got my taxi driving licence since abt 1997 as "standby", never drive taxi before. Wife pushed me to take. She also "pushed" me to take swimming instructor course as well as class 5. I told her to spare "rice bowl" to others. So I did not take these 2. Got put $1k deposit with ntuc comfort, 1 yr later collected back. About late Ng TF, you are correct, the lucky plaza...my ex-colleague's father was neighbour, described him as "eat ppl with bone swallowed". DWG's big boss, Dennis Wee, I think Sec 2 only, got awarded(don't know which body) honorary "doctorate" title. Got lawyers become estate agents, got MBA holder selling poh pian also laywer....So don't need to study liao?

Got "six sense" no "six dimension". You can google abt "dimension". 一元空间， 二元空间，三元空间。Mathermatic called 一元次方，二元次方，三元次方.

Give me some time to work out some tables, will prove you wrong.

Much to do with "personal style". Personally I prefer to clear the loan immediately if CPF OA got enough money, would think "twice" to activate cash for instalment payment. Simply cash can do many other things. OA=2.5%, SA=4%. Definitely I would use cpf to pay up as much as possible, I would dump all the SA if regulation allows, simply: 1. Remain $ in cpf account, just to earn interest that 2.5%? No. no, just leave some (~ 24 instalments, my standard) for just in case. 2. Say, compare 300K in OA with 2.5% interest and 300K outstanding loan(2.6%) for 1 year. Actually this is "capital budgeting" technique. 2-1. OA earns $7500 of intest. Need to pay $4242 loan interest if use cash. CONCLUSION: use cash to pay 2-2. 2 years. OA (300K+7500) earns $7687, loan interest(2 yr) =8,192 .CONCLUSION: use OA to redeem loan 2-3. 3yr, 4 yr....the longer the year the more loan interest than interest earn in OA! 2-4. One must know that the way of interest calculation is different from OA and loan! For OA is simple, like Fix deposit, the interest just add on to the principal. Loan's interest calculation is not like that, need spreadsheet. That was why I die die obtained one from UOB in 2005. 3. One may be called home by the Lord tmr without advance notice, then what happen to $ in cpf? If can "consume" while one is still alive, do it fast. 4. The $ in cpf is just like $ in fund mangers' hand.(temasek holding). How I wish the $ is in my hand!

By agar agaration 5% too troublesome to make the trip, time & energy are more precious. 15% take "very long" to save to reach this figure. 10% just nice CPF also money. Best strategy is monthly instalment all pay by cpf OA. Simple logic that cpf money cannot be withdrawn as "cash", & one does not know whether he can survive till 55yr old (2013 withdrawal rule no more liao for 55yr old). Put cash into property needs patience liao. Just make sure you have "spare cash" for contigent events lor. Personally, I don't give cash to "fund managers" to play, I prefer "to play" on my own. But need to give face to wife, as she like to put cash into different "baskets"- letting wife happen is more important than making that little % differences.

History reveals that these "animals" are meant to be kept outdoor. And these were/are always fierce-looking and "big size". Don't know why now all become so cute and "miniature", look very much similar to japanese's "pikachu". 2009 Nov in Taiwan at 国宾馆(where foreign countries' chief stay)，saw 2 pixiu sitted at 2 tip of the roof top, facing a building far away, top with a long antenna. Same year, different month on tour with family & SIL, "accidentally"(not in original schedule, last minute changes)went into a Taiwanese FS shop, selling all sorts of pixiu (big & small, colors, materials...)Again, akin of "seller said his flowers' the best. Asked for our chinese name & DOB. I gave the fake name & DOB and kena recommended a brown-color "earth"-pixiu, as the fake name & DOB need "earth". Of course I never buy any, but sil bought 2 oranged-color transluscent-stone miniature pixiu (~SGD1,200), one herself & one for her daughter for hanging around the neck. Now I never see her wearing anymore(divorce in progress). Niece's color faded liao, this yr taking psle. Remembered seeing 2 big stoned-pixiu at kallang ice-skating rink(same floor, outside glass panel)

Hi jetlover, where did you buy in singapore?. Beside table & floor standing, got wall or ceiling mounted types? Brushless motor high pitch & noisy or not? for 10"/or 12" can blow "how far"? Tendency to fall "backward" while at full speed & air-foil ring swinging? Appearantly K.Auto Acess & Life Style at Bukit Batok st23 got import these.

1. sitting=resting=off duty, standing=on duty. 2. Pixiu has 2 kinds: PiYa (2 horns)meant for wards off evil. Tian Lu(one horn)meant "sucking" wealth. Piya at "evil" place, Tian Lu usually placed facing outside main door(don't get stolen). 3. Pixiu has no anus, only "in", no "out". No anus where got tail? Don't know will it suffer from constipation problem or no? 4. Your money suck by it and go into seller's pocket first. The more you buy the more it sucks into seller's pocket.

Wisely said. The 3 variables($,%,yr)in Mortgage loan structure look simple but complex when mortgagee's terms come in. As rule of thumb from experience, if one has accumulated >10% cash of outstanding loan amount, wise to do a partial payment(no penalty cost)& revise the tenure to cut down interest payment....

Glennyuen, Here are the breakdown of figures from years 0 to 12. As at 120th instalment (end of 10 year = 2011+ 10= 2021 Feb, if year 0 starts in Feb 2011), the outstanding amount would be $195,669.41, if no partial payment is made during the period mentioned. Look at the amount of interest(s)you would have to pay, see you scare or not! http://img62.imageshack.us/img62/6903/60116210.jpg http://img217.imageshack.us/img217/5382/18973228.jpg http://img717.imageshack.us/img717/3987/60025960.jpg http://img687.imageshack.us/img687/3354/1012go.jpg

Sure, each has his own core values. Simply put it: Author puts "study" or "gaining knowledge" as first priority and uses it as sword and shield to fight against and change "fate". His logic is "fate" influents "destiny". 运可改，命可造，命由己作，福由己求. He mentions about the "humanity" and "natural" sciences in FS. Second last para is the classical example of cause & effect, it is also fs-related. Topic of the article should be renamed as "读书=万能！" He must have read a lot, thus able to produce such a "good" article. Good reader always produces good writer. What happened to ancient scholars who failed examination? All became "mobile" fortunate tellers, book writers and teachers liao.

Glennyuen, pls clear yr inbox, already full.