Seeking advice on bankruptcy and hdb matters

[Muscleman9968]

Wow after my massage and special release this cork and bull Story still brewing…

The mum earning 1k plus take loan with Hdb as collateral for 800k then become bankrupt now bank say tell Hdb must sell…and not even fully paid up and not yet mop.

Just now the messeur ask me for loan 800k she said her used panties can be collateral…

Seems as good an offer..

 

[Ethan_]

If have nothing then you won't even have the option of getting a bank loan to begin with.

Think if not wrong, bank tend only lend to the rich man, not the poor man. Its there to help the rich man, not the poor man.

Those do business until certain stage one may will know. When have alot of money in the bank, the bank tend will come solicit ask to take loan and such. Cause they know the rich man can repay. Poor man come ask for loan think bank ask them go fly kite.

That's why start business is tough for most people. As most who go into business ones tend are ordinary people, who cannot get a loan or anything from official sources. Most who do business tend don't use bank loan one when starting out.

 

[Ethan_]

Wow after my massage and special release this cork and bull Story still brewing…

The mum earning 1k plus take loan with Hdb as collateral for 800k then become bankrupt now bank say tell Hdb must sell…and not even fully paid up and not yet mop.

Just now the messeur ask me for loan 800k she said her used panties can be collateral…

Seems as good an offer..

Think find the whole thing fishy somewhat (if not CSB). Earn 1k+ want to buy car think alot also will ask them go fly kite, if not pull in guarantor. But earn 1k+ can be guarantor for such a large some of money. Some more the flat under MOP. If not ah-long. Think the different parties sound like out to 骗钱 of sort siah.

 

[jasvonvios]

Hdb can't help much by bankruptcy law,all asset is control by OA

The bank recalled the loan, TS need hdb or another bank to take over the loan.

 

[henghengonedragon]

Sound like ur mum friend is scaming, think possible fake document so ur mum can guarantee huge amount

What I worry most is the mum collaborate with someone to scam her own family. That will be quite heartbreaking.

Mother is PR, so most likely across the causeway? I thought there are many scams there?

 

[Laneige]

under HDB loan if banks needs U to pay , bank can't touch Ur HDB. But now U r under bank loan, U have to sell as per bank letter

Ya I think is something like this because bank loan to the owner

 

[jazz2005]

Think if not wrong, bank tend only lend to the rich man, not the poor man. Its there to help the rich man, not the poor man.

Those do business until certain stage one may will know. When have alot of money in the bank, the bank tend will come solicit ask to take loan and such. Cause they know the rich man can repay. Poor man come ask for loan think bank ask them go fly kite.

That's why start business is tough for most people. As most who go into business ones tend are ordinary people, who cannot get a loan or anything for official sources.

On the flip side, the bank is protecting the poor as most new businesses fail within their first year.

 

[Laneige]

wow lau. still many ppl saying bank loans for hdb. if cannot pay the loans banks cannot do anything.

Then bank loan for free n tahan all the risks?

 

[Ethan_]

On the flip side, the bank is protecting the poor as most new businesses fail within their first year.

Think same with rich man bah. They do business or start new business also no guarantee success one. Its the norm with business. Regardless rich or poor. Just that rich man have better chance of success, cause they got pocket deep enough to learn from mistakes till they see success.

 

[highsulphur]

7 pages and could be a troll

 

[PaprikaSG]

Lesson learned: NEVER be a guarantor for anyone.

 

[David Lai]

Mine is a bank loan (not hdb loan). When my mom was declared bankrupt i thought hdb was a protected asset and the bank cannot force u to sell the flat but seems like i was wrong and they only giving me one month to sell.

thats why the garment today not the same anymore…
in the past, all loans from hdb/cpf, as such no one else can touch the hdb flats owned…
then slowly gament became lazy, thats why not managing hawker centres, hdb loan take from commercial banks…
and no hdb to stay if bankrupted… knn…

 

[xiaozhi86]

Lesson learned: NEVER be a guarantor for anyone.

Lesson learn is convert to Singaporean and stop leeching as a PR. Guess ts must be jhk. Song bo

 

[David Lai]

Lesson learned: NEVER be a guarantor for anyone.

well lesson to the mum and ts lor…

 

[jericho75]

Then bank loan for free n tahan all the risks?

i think many ppl got the wrong concept that hdb is protected from creditors. if u borrow from banks buy this hdb unit and if u cannot pay the loan banks can ask u to sell off.

but if u have a hdb with hdb loans. u owe credit card money banks cannot ask u sell off hdb.

 

[Ethan_]

Lesson learned: NEVER be a guarantor for anyone.

Think all along this has been the age old the advise from those older gen. Especially for ordinary people. Own self also no money, still want to and can be a guarantor for others. It seems very fishy. Both sides mind something wrong. Unless maybe the other party ah-long then it may be another story.

 

[DragonFire]

Keyword is owner must be singaporean.

There a few additional requirements for flats mortgaged to banks. The SC - mortgagee relationship must be good (i.e the SC isn't the target of the mortgagee in relation to a fund recovery activity. The SC should also not be a guarantor of a person who is the target of a fund recovery activity by the same entity as the mortgagee.

 

[Ethan_]

i think many ppl got the wrong concept that hdb is protected from creditors. if u borrow from banks buy this hdb unit and if u cannot pay the loan banks can ask u to sell off.

but if u have a hdb with hdb loans. u owe credit card money banks cannot ask u sell off hdb.

But regardless of either, can a public housing be used as collateral? Think cannot right? Its one thing if borrow from bank and owe bank for the flat money. But its another thing when the flat is used as collateral for other stuffs. Sounds like crossing the line already.

 

[DragonFire]

i think many ppl got the wrong concept that hdb is protected from creditors. if u borrow from banks buy this hdb unit and if u cannot pay the loan banks can ask u to sell off.

but if u have a hdb with hdb loans. u owe credit card money banks cannot ask u sell off hdb.

If you owe credit card money to the bank your flat loan is taken from, the bank can ask you to sell off IIRC.

 

[anchoraz]

Sounds like a scam. Ask ts to sell house and get $$ to pay unknown pple.

I suggest ts to find mp or go neighbourhood police center to ask whether got such scams around.

Seems alot of innovative scams recently.