I Need Help Urgently!

[alanndvl 0]

hi everyone,

i've selected a flat for BTO. i'm a 1st timer but both my parents are not. also both my parents are bankruptcy. but i myself am self employed with cash flow 80k and also my parents cpf have a sum of money after we sold our house in jan 2010. what should i do? write an appeal or?

i'm really puzzled n panicked cos i only have 4 mths to settle a hdb loan.

[forgotten 1]

hi everyone,

i've selected a flat for BTO. i'm a 1st timer but both my parents are not. also both my parents are bankruptcy. but i myself am self employed with cash flow 80k and also my parents cpf have a sum of money after we sold our house in jan 2010. what should i do? write an appeal or?

i'm really puzzled n panicked cos i only have 4 mths to settle a hdb loan.

Have your parents taken HDB loans 2 times in the past? If yes, you and parents can only apply for bank loan now.

What are you trying to appeal with HDB? Is your HLE application rejected? We need more details from you.

You can call up the HDB hotline today to clarify your issue with them.

Edited June 8, 2010 by forgotten

[rickzan 0]

hi everyone,

i've selected a flat for BTO. i'm a 1st timer but both my parents are not. also both my parents are bankruptcy. but i myself am self employed with cash flow 80k and also my parents cpf have a sum of money after we sold our house in jan 2010. what should i do? write an appeal or?

i'm really puzzled n panicked cos i only have 4 mths to settle a hdb loan.

[salavanun 0]

you need help but the details u provide very little for anyone's guess. if u have included your parents name i dun think u eligible for new flat in the 1st place. if u intend to list them as occupiers ucannot utilise the cpf to offset either if i am not wrong

[bepgof 20]

- Not really knowing your situations, but I guess:

- U want to include yr parents' name in the Joint or Common tenacy, so to make use of their CPF to pay instalment or partial? In eye of law, bankruptcy has no "legal title" to own anything = cannot put their names in Joint or Common tenacy, but can put them as occupiers.

- Can't use occupiers' cpf account to pay loan.

- Cash shortage? to do downpayment/instalment? Banks can "help" you by sucking your blood.

- Self emplyed? Bankers supper scary of this category of people, & lend no blood for you to suck.

- How to help, don't buy BTO lor !

Edited June 8, 2010 by bepgof

[sff 0]

hi everyone,

i've selected a flat for BTO. i'm a 1st timer but both my parents are not. also both my parents are bankruptcy. but i myself am self employed with cash flow 80k and also my parents cpf have a sum of money after we sold our house in jan 2010. what should i do? write an appeal or?

i'm really puzzled n panicked cos i only have 4 mths to settle a hdb loan.

Bankrupt can apply hle and list as owner, subject to hdb approval. Tried that. But loan value is very low even if one party has much higher income. All applicants must have stable income. Plenty of documents to submit, bank statements maybe 12 mths, credit bureau reports for all, ... process quite long. Wrote a very long letter to hdb detailing why a loan is needed and how it would have helped. They approved a loan with specifics. Amount low.

Banks dun lend to bankrupts, joint applicant with non-bankrupt also cannot. Full-stop.

Bankrupts as occupiers, no prob. Bank ok. HDB also ok.

If your parents are not working, getting loan from hdb is really a gamble. Even if working, approved deduction is only what is contributed to cpf oa for all parties. Even if you earn more, they won't loan more since got bankrupt, what more you got 2.

If you are eligible for hle, try lor, and at the same time, include a letter stating your need and problem. Maybe...

[alanndvl 0]

you need help but the details u provide very little for anyone's guess. if u have included your parents name i dun think u eligible for new flat in the 1st place. if u intend to list them as occupiers ucannot utilise the cpf to offset either if i am not wrong

sorry abt the little details.

i'm noob to buying a hse.

the whole situation is...

i register online to buy bto hse at buangkok together with both my bankrupt parents in jan. in may, hdb send me a letter telling me i can go select a unit with queue number n everything.

went down to select a flat, then ask to pay 2k deposit.

all they tell me is to get a loan.

but definitely bank loan cannot cos my parents bankrupt.

so only way is hdb loan. i need a guide on how to appeal successfully for a hdb loan.

if loan too little, i will have to find other source for money to top up right?

my english poor, need help to actually write an appeal letter.

sorry pple if u all need more details so u can help me just let me know.

cos i really dunno what to provide.

thanks so much for all your response..

i appreciate so much!

[therat 18]

the whole situation is...

i register online to buy bto hse at buangkok together with both my bankrupt parents in jan. in may, hdb send me a letter telling me i can go select a unit with queue number n everything.

went down to select a flat, then ask to pay 2k deposit.

all they tell me is to get a loan.

but definitely bank loan cannot cos my parents bankrupt.

so only way is hdb loan. i need a guide on how to appeal successfully for a hdb loan.

Go to HDB web.

Apply HLE

There are no 10 yrs series on appeal successfully for a hdb loan

if loan too little, i will have to find other source for money to top up right?

Correct.

Eg. After deposit , the balance loan is 400k

and HLE only can provide 300k

You need to pray hard and super hard to tio ToTo Group 1 to pay off the shortage of 100k CASH

U didn't do your sum and go and apply BTO.

Later , 'touch wood' cannot get the loan, how?

Few yrs back got a couple go and apply BTO and borrow $$ to pay of the deposit , I think is $30k.

Then HDB Loan cannot loan the amount they want and they had not enough cash to cover the shortage.

Then LL, $30k fly away

[Warrior88 0]

Thought those "LEGAL" money lenders that hunt around Toa Payoh can help

[therat 18]

Thought those "LEGAL" money lenders that hunt around Toa Payoh can help

Now matta is watching them(Property agent cum money lender) very closely

their interest very scary one lar.

20% +-

List of money lenders

http://www.minlaw.gov.sg/ipto/corporate/Do...oneyLenders.pdf

[forgotten 1]

Few yrs back got a couple go and apply BTO and borrow $$ to pay of the deposit , I think is $30k.

Then HDB Loan cannot loan the amount they want and they had not enough cash to cover the shortage.

Then LL, $30k fly away

OMG 30K gone.

I guess they applied for the Pinnacle ~600K.

[forgotten 1]

Thought those "LEGAL" money lenders that hunt around Toa Payoh can help

Yesterday I received a flyer from Moneylender cum property agent. The earnings must be so good that some still dare to risk it against the law.

Edited June 12, 2010 by forgotten

[therat 18]

OMG 30K gone.

I guess they applied for the Pinnacle ~600K.

I think so.

Newspaper come out before.

If i remember correctly, the husband is a pte ltd director but HDB don't realize his director fee as salary.

Then the wife just work or sth like that

Cannot remember the detail liao.

Yesterday I received a flyer from Moneylender cum property agent. The earnings must be so good that some still dare to risk it against the law.

Understand some property company don't allow agent to do moneylender.

Will tio fire one.

[Plastic3 0]

Understand some property company don't allow agent to do moneylender.

Will tio fire one.

Yeah, its illegal according to new regulations...