For business loan, a friend of mine was allowed to service interest only as his loan amount was too big and his business failed. Is there a similar one for property loan ?

U guys really really dont have any idea what really happened in the subprime crisis. In america subprime crisis was a situation where somebody who is bankrupt can get a loan buying a bungalow, get it? Is that happening in malaysia? No! Enuff said.

No ... that's not what subprime means.
SUBPRIME in USA are category of ppl NOT qualified to get house loans. Not just bankrupt. It's bcoz banks in USA got a plan to reduce their risk from subprime borrowers with MBS (mortgage backed securities). They sell this MBS to other investors hence "transferring" the risk. With MBS, they also "average" out the risk bcoz it's a mixed of subprime and prime borrowers.

So in Msia ... are there ppl NOT qualified to get loans, getting loans. YES. They are consider SUBPRIME.
Ppl who uses  REFINANCING to buy another property with 10% downpayment. They refinance one property to buy 2 properties. And then they flip these property to make a huge profit margin. The process repeats until they are holding more and more properties. This is ONLY good when the market is in BULL mode.

Some even quit their day job doing this, living on rents. So their credit worthiness is compromised when they quit their jobs. Basically putting ALL in one basket .... Property basket. They also moved themselves frm PRIME to SUBPRIME category. The Msian banks may be prudent in their loans approval but borrowers were not. They think good times will keep rolling and property prices NEVER drop.... 

i have been waiting for quite sometime for things to happen.. but still it's business as usual... when the burst going to be?

to be really honest i don't think anything terrible will happen in 2014. this year most likely would be a major slowdown in the market.. next year would be the deciding factor year on where property market is heading to...

No ... that's not what subprime means.
SUBPRIME in USA are category of ppl NOT qualified to get house loans. Not just bankrupt. It's bcoz banks in USA got a plan to reduce their risk from subprime borrowers with MBS (mortgage backed securities). They sell this MBS to other investors hence "transferring" the risk. With MBS, they also "average" out the risk bcoz it's a mixed of subprime and prime borrowers.

So in Msia ... are there ppl NOT qualified to get loans, getting loans. YES. They are consider SUBPRIME.
Ppl who uses  REFINANCING to buy another property with 10% downpayment. They refinance one property to buy 2 properties. And then they flip these property to make a huge profit margin. The process repeats until they are holding more and more properties. This is ONLY good when the market is in BULL mode.

Some even quit their day job doing this, living on rents. So their credit worthiness is compromised when they quit their jobs. Basically putting ALL in one basket .... Property basket. They also moved themselves frm PRIME to SUBPRIME category. The Msian banks may be prudent in their loans approval but borrowers were not. They think good times will keep rolling and property prices NEVER drop.... 

ya lo.. many ppl said property will crash in 2013 kau kau.. but it is up 5-10% again... paper gain only la 

2014.... juz focus on stock market movement n prop interest... if something big changes, then prop market will be impact. 

I hv a 70% loan with a bank, my property has gone up 67% now, I try to refinance my property with new valuation but it was rejected, bank says my income cannot support a higher loan. I try 2 banks
It is not easy to refinance as claimed by you

ya lo.. many ppl said property will crash in 2013 kau kau.. but it is up 5-10% again... paper gain only la 

2014.... juz focus on stock market movement n prop interest... if something big changes, then prop market will be impact. 

if property market is to crash, share market comes 1st
oh wai 

I hv a 70% loan with a bank, my property has gone up 67% now, I try to refinance my property with new valuation but it was rejected, bank says my income cannot support a higher loan. I try 2 banks
It is not easy to refinance as claimed by you
My LTV stands at 43% now

if property market is to crash, share market comes 1st
oh wai 

The U.S. subprime mortgage crisis was a set of events and conditions that led to a financial crisis and subsequent recession that began in 2008. It was characterized by a rise in subprime mortgage delinquencies and foreclosures, and the resulting decline of securities backed by said mortgages. These mortgage-backed securities (MBS) and collateralized debt obligations (CDO) initially offered attractive rates of return due to the higher interest rates on the mortgages; however, the lower credit quality ultimately caused massive defaults.[1] While elements of the crisis first became more visible during 2007, several major financial institutions collapsed in September 2008, with significant disruption in the flow of credit to businesses and consumers and the onset of a severe global recession.

In finance, subprime lending (also referred to as near-prime, non-prime, and second-chance lending) means making loans to people who may have difficulty maintaining the repayment schedule, sometimes reflecting setbacks such as unemployment, divorce, medical emergencies, etc.[1] Historically, subprime borrowers were defined as having a FICO scores below 640, although "this has varied over time and circumstances."

The FICO score is the best-known and most widely used credit score model in the United States. It was first introduced in 1989 by FICO, then called Fair, Isaac, and Company. The FICO model is used by credit reporting bureaus such as Experian, Equifax, and TransUnion to produce a FICO score. Because a consumer's credit report may contain different information at each of the bureaus, FICO scores can vary depending on which bureau provides the score.

Makeup of the FICO score
The approximate makeup of the FICO score used by US lenders

Credit scores are designed to measure the risk of default by taking into account various factors in a person's financial history. Although the exact formulas for calculating credit scores are secret, FICO has disclosed the following components:[3][4]

35%: Payment history—Late payments on bills, such as a mortgage, credit card or automobile loan, will cause a FICO score to drop.[5] Bills paid on time will improve a FICO score.[6]

30%: Credit utilization—The ratio of current revolving debt (such as credit card balances) to the total available revolving credit or credit limit. FICO scores can be improved by paying off debt and lowering the credit utilization ratio.[7] Alternatively, applications for and receiving the credit limit increase will also drive down the utilization ratio. Alternatively, opening new lines of credit will have the same effect (keep in mind the "Average age of tradelines" and "Hard inquiries" matrices on the last possibility). The closing of existing revolving accounts will typically adversely affect this ratio and therefore have a negative impact on a FICO score.

15%: Length of credit history—As a credit history ages it can have a positive impact on its FICO score.[8]

10%: Types of credit used (installment, revolving, consumer finance, mortgage)—Consumers can benefit by having a history of managing different types of credit.[9]

10%: Recent searches for credit—hard credit inquiries, which occur when consumers apply for a credit card or loan (revolving or otherwise), can hurt scores, especially if done in great numbers; often three to five points per inquiry. Individuals "rate shopping" for a mortgage or auto loan over a short period (a fortnight or 45 days, depending on whether old FICO or FICO 08 are used) will likely not experience a large decrease in their scores as a result of these types of inquiries, as automated computer algorithms attempt to detect when a consumer is rate shopping (and not attempting to receive many new lines of credit), and roll all of the hard inquiries into one; this can often take several months, and isn't always effective, although a consumer who believes he or she has received many hard inquiries on their report while searching for one loan (where the automated system has failed to detect it as such) can dispute these with the credit bureau in question.[10] While all credit inquiries are recorded and displayed on personal credit reports for two years (their effect decreases at the six-month and one-year mark; they have no real effect after the first year), credit inquiries that were made by the consumer (such as pulling a credit report for personal use), by an employer (for employee verification) or by companies initiating pre-screened offers of credit or insurance do not have any impact on a credit score: these are called "soft inquiries" or "soft pulls", and do not appear on a credit report used by lenders, only on personal reports.