QUOTE(pinksapphire @ May 4 2019, 12:55 AM)
You know, I never ever thought that people would do this. I mean, hasn't even crossed my mind why would they... it's like, no money why wanna buy, and if get extra loan to do renovation, maybe still can understand...but if for splurging on other things that to me are liabilities, it's like stupid, no?
I guess I'm brought up poor or stingy with my expenses...my approach has always been never spend what you don't have, don't even borrow if possible. I feel insecure spending future's money, yet these people macam so happy spending like no need to pay back @_@ how do they live like that??
when banks happily throw money to your face, you either catch it with both hands or say 'thank you but no thanks'.
banks only lend to you when they think you can pay back. if financially you are in the red, you think bank will come and 'help' you?
beside, housing loan is the cheapest form of interest of all type of borrowing. if you are running a biz, this is god sent.
not encouraging 'rob the bank' here. Just outlining why people do what they do.
recently I applied for a housing loan, was thinking and praying that they will approve LTV70, but even LTV50 I also shamefully take with no question asked. mana tau, the bank came back and offered me ltv90. I sort of telling them LTV70 is good enuf for me, but the officer said since their people have approved ltv90, to change back to ltv70 will need time and rechecking of docs. haiz...this officer really twisted my arm.....