does anyone heard of this? this claims can reduce our housing financial

SUPEX had a "not-so-good-reputation" in the online community for property investor such as http://realestate.net.my/forum/ and http://www.myrealestate.com.my/

Yes I agree, the Supex guy is not straight to the point, he just want to hook you up so u will pay for his services.. Of coz, he will sweet talk and gave a very good picture during the seminar, but to get any actual work done, you hv to pay up..

Read here, http://www.realestate.net.my/forum/viewtopic.php?t=7555

and here, http://www.realestate.net.my/forum/viewtopic.php?t=3240

meaning that we dint manage to save on our housing financial?

What does it mean by reducing housing financial?
What is in your mind?
Easy steps....reduced your loan burden by earning more money.
Or in the start, loan less, or shorter tenor......
Once you're committed to the loan, tell me logically or sensibly how to reduce the burden besides earning more to pay the burden off?

What these guys do is to help you evaluate which package suits you the most. And they charge you for that. So why not do own research instead of paying them to do it? Give me the money and I'll help you choose a loan package, but obviously I wouldn't be responsible if one day you felt that it's worthless. That's what they do.

property also got this kind of con scheme.... tot only timeshare in tourism industry only....... rule of thumb.. our money, lets manage ourselves.

@boon
what i mean here is that they claim to help us save a lot in interest and thus reducing the total amount paid for a property. eg we buy a 200K house and in the end we paid 350K for that house becoz of the interest..meaning the interest is 150K...and they claim that they can help us reduce this amount (150K)..its hard to believe..thats y i ask opinion here..

siauann,
That's what I said, they helped you to choose the best offer thus help you save on interest.
They help calculate your monthly affordability and help you plan on how long to engage in your loan tenor and monthly repayment.
Be wise....
anyway, Kuya...it's not con. It's something like financial adviser.
But basically, there's no need for it as you can do your own research.

ha ah... financial adviser is much better word.....

but which board give them license to be a financial adviser? did SC award them with that title?
let say we didn't satisfy with the service, which board we suppose to report to.

btw, the service the they provide is pre or post loan agreement?

I suppose it's pre....
but they would also advise ppl to refinance usually to those that had tied up with them....that's why the bad reps they had.

i m so shocked abt what i read here, eg: how does SC got to do w this.
Totally shocked, obviously based on my experience w the govt, supex is doin somethin not known to even lawyer or bankers (but i m aware of their effective n genuine service)
former bank negara Senior Exec

i heard they will tell u to save rm100-300/mth in a fund, then the fund will grow into 70k in 10++ years or so, and you can use the fund to clear your loan. Fund performance subject to market conditions, compound interest, albert einstein, etc.

SUPEX MORTGAGE IS NOT A SOLUTION FOR FLEXI LOAN FOR SURE!!!

I would like to remind everyone here. For those who is using Term Loan, SUPEX might help.

I'm using SC Mortgage1 loan. So far the only bad point about flexi loan is Higher INTEREST!!! BLR + XX.

For my case, there is no concern since in interest is more than 4%, my company will subsidise the rest of all. If BLR=8%, my company will pay 50% of interest charged for me.

However, 1 simple question which SUPEX MORTGAGE consultant all can't answer here is:

1. If my monthly installment is RM1k and I pay RM2k every month to my account (assume BLR is fix), how long I can finish my payment? If you use a normal loan calculator, a double payment of your required payment will indeed reduce your years to half!

2. If SC Consolidated Statement is a +ve value, will there by any interest charged?

3. Flexi Loan is just like a Overdraft account, if you take out extra payment, OF COURSE YOU WILL BE CHARGED INTEREST! Where got FREE OVERDRAFT in this world? So if put in Extra $, that's it...... If you take out, REMEMBER, INTEREST RATE IS BLR ( Still cheaper than Credit card for those CARD SLAVE).

4. Flexi Loan calculate based on your -VE value. Which means how much you owe the bank at the current Month(or DAY), of course how much interest you are charged. Simple mathematic, I'm not sure why people doesn't make sense about it.

5. If your account is a +ve Value, you can terminate the account anytime (More than 5 years no penalty). So once you terminate the account, of course your loan finish. Because you already END THE FACILITY.

6. Normally SUPEX member pandai. They ask you to request an "EARLY SETTLEMENT STATEMENT". Early settlement will always follow the calculation of TERM LOAN. Hence your EXTRA PREPAYMENT will not be calculated. HOWEVER, they will return you the $. Beware, EARLY SETTLEMENT and +VE account in your Condolidated STATEMENT is different. EARLY SETTLEMENT is something you wanna do with Refinancing or EPF. Positive Consolidated Statement means if you have a CASH youself and debit into the account, and at the end BANK OWE you $ not you owe Bank $ anymore.

7. My advise here is, don't simply do any Refinancing unless you get a very good interest (FIX INTEREST, maybe 4%) for the whole loan TERM.

i heard of this planning and noe a person who does it.....but from another firm

it basically help you to reduce your interest payments , i.e. help you to save. but, to be able to do so, there's always things to be sacrificed, for example, they could help you look for a bank that offer you a lower interest rate, in turn, you may have to increase your monthly payment - or reduce the loan payment period. They would be able to help you reduce your interest payable by more then rm 10k, and therefore, they would charge you like rm 1.5-4k , depending on the complexity of your case.....

mortgage reduction is suitable for any term loan. flexi loan is also 1 of the term loan. bank do provide mortgage reduction, everybody can do it, but the problem is how much do u understand ur loan agreement???

kundam:
if ur monthly repayment is 1k, n u pay 2k, normally will save more than 50%!!! let say u r paying for 30yrs normally. if u pay 2k, u will pay off in less than 15 yrs!!!!!! i agree with what u say, don't simply do any Refinancing unless u get a very good interest rate!!! for flexi loan, my idea is, u borrow 100k, 10 yrs, n u dump in 100k, let it automatic deduct ur repayment monthly, n spent 10yrs to see. coz as i heard from bank regarding the flexi loan, they say the interest will offset if u borrow the $$, n dump in the same amount tat u borrow.. so i think this way can help u find out the truth!!


in my opinion, if a business can help u earn 50k, n u need to take out 5k, izzit worth to do?? there's no free lunch in this world. even u do it urself, u oso hv 2 spent time on it. time is $$.

alot of ppl who duno anything can even comment. Perhaps ppl like that should define what is term loan restructuring, mortgage reduction, letter of notification /approval letter, inverse order of maturity, suspense account, unfair contract act, TILA act,
DAMN, if u duno, dont say supex lie. BAnk's legal department is bigger than your 10 house, it has more lawyers than ur family hv ever produced. U think bank wil do nothing if supex is bullshiting?
this world has so many ppl who cant think logically
vinext@gmail.com

Supex charge you for 'advises'

Just walk in any bank, pray u get a good marketing officer, you get those advise for free.

I would say that if you got your loan like >4 years ago, you can feel free to go for refinancing now, it'll save you money even though u have to pay for the penalty incurred

Interest charged nowadays are going at BLR - 1.7 to 2.x % where interests charged few years back are going at BLR + xx %

You don't need anyone to tell you that you will be saving money by refinancing.

Hi,

To be honest, without being harsh to you, no hard feeling,

Do you think that re-financing ALWAYS can help us to reduce the interest?

You gotta bear again the penalty, legal fee and etc which is hidden from you into your loan amount whether direct or indirectly..

If you have advance loan software to read about the amortizing schedule on the repayment, portion of interest and principal paid, you would be surprise to see your NEW monthly repayment amount (after refinancing done) which though may appear lower than the old loan (to impress you with the reduction) but the portion of the interest actually may sometimes higher than the old one.

Don't get caught in the creation of the cycle of debts again by the promises made by ads. Unless you re-finance to get extra cash for investment which may help you earning more than the interest imposed by the financial insitution.


"IN THE WORLD OF UNIVERSAL DECEIT, TELLING THE RIGHT THING BECOME A REVOLUTIONARY ACT"
Consultant
Alan

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Added on May 15, 2009, 12:12 pmI would say any true mortgage reduction strategy may help you even to save on tremendous interest, if aapplied correctly, only OD (Overdraft) you don't have to apply mortgage reduction strategy. The rest you still may to save interest.

I can't answer your question directly as a matter of fact, telling the truth things sometimes may make myself liable for legal action.

Just a token of advice, whether you believe or not, I won't be making a money anyway, stay clear away from promises made from 'others' on loan package of .....

Just a question to guide you to 'hidden' fact:-

If you are operating financial institution, would you create/promote a financial product which can make yourself earning a lesser income?

OF COURSE A HELL NOT! IT"S A BUSINESSMEN BROTHER>


"IN THE WORLD OF UNIVERSAL DECEIT, TELLING THE RIGHT THING BECOME A REVOLUTIONARY ACT"
Consultant
Alan

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Added on May 15, 2009, 12:16 pmBrother, Flexi loan is NEVER an OD or similar.

I would say any true mortgage reduction strategy may help you even to save on tremendous interest, if aapplied correctly, only OD (Overdraft) you don't have to apply mortgage reduction strategy. The rest you still may need to apply to save interest.

I can't answer your question directly as a matter of fact, telling the truth things sometimes may make myself liable for legal action.

Just a token of advice, whether you believe or not, I won't be making a money anyway, stay clear away from promises made from 'others' on loan package which "HELP YOU SAVE INTEREST".....

Just a question to guide you to 'hidden' fact:-

If you are operating financial institution, would you create/promote a financial product which can make yourself earning a lesser income?

OF COURSE A HELL NOT! IT"S A BUSINESSMEN>


"IN THE WORLD OF UNIVERSAL DECEIT, TELLING THE RIGHT THING BECOME A REVOLUTIONARY ACT"
Consultant
Alan

This post has been edited by alan8181: May 15 2009, 12:16 PM

And with SUPEX, you need to pay extra to SUPEX, THEN still have to pay the penalty, legal fees and etc

It's all about money, it's hardest concept to accept.

Some laws are just not so 'convenient', 'expedient' or 'costly' to be applied - it's money

Politics + Economy is a virtually inseparable 'entity' esp in country where law is not as advanced.

If you are operating financial institution, would you create/promote a financial product which can make yourself earning a lesser income (interest)?

OF COURSE A HELL NOT! IT'S A BUSINESSMEN.... BROTHER remember, i would like to operate bank whenever possible>

As a matter of fact, the US and UK have introduced Mortgage Audit Act or similar law to protect consumer and to regulate on the loan matter, which we don't have.

Many of the 3rd World countries including Malaysia, we don't have such law to protect / educate us to be a smart consumer, thus we are always subject to Contract Act, and as far as the latter Act (law) is concerned,

"YOU ARE BOUND BY WHAT YOU SIGNED"

Do you think you can request to amend terms and condition as entailed in the letter offer or loan agreement of the financial institution?

If can, let me know immediately, I would gladly furnish you a list of amendments to give to the legal effect to save on interest so myself without having to go thru 3rd party company to apply mortgage reduction strategy.



"IN THE WORLD OF UNIVERSAL DECEIT, TELLING THE RIGHT THING BECOME A REVOLUTIONARY ACT"
Consultant
Alan

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Added on May 15, 2009, 12:25 pmIf applying mortgage reduction strategy correctly, re-financing sometimes is not needed so you are not paying all that fees brother.



"IN THE WORLD OF UNIVERSAL DECEIT, TELLING THE RIGHT THING BECOME A REVOLUTIONARY ACT"
Consultant
Alan

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Added on May 15, 2009, 12:27 pmThere is always PROs and CONs

Use our wisdom and judgment to all these comments and posts.

The best way is to find out your own.


Alan

This post has been edited by alan8181: May 15 2009, 12:27 PM