Does that means the prepayment money will only hold by the bank and not directly pay to developer?

My 2 cents:

1. Don't refinance - give yourself some room to breath

2. If you need a 100K car to "cari makan", keep it. Indeed, nowadays people ARE superficial. Look at what you use, wear and drive first, then only consider doing business with you.

3. Park the 50K with your 1st house loan IF the loan is flexi i.e HSBC homesmart, Since you're stretched tight, a buffer will be good.

4. Try negotiating with your wife again to rent out the house. You can split the rental money for your buffer, house and car loan payments.

5. Make sure you have life insurance coverage.

6. Try cutting down on unnecessary expenses to increase cash flow.

7. Don't forget to draft your will too (i mean it in a good way).

hi , my debt is about 1 million, hope to get advice from  sifu here
i got 50k cash now, how should i use it now?

house 1 , debt 443k installment 2600/month , interest rate blr-2.3 - no rental
personal loan 41k, 24 month now left 18 month , rm1815, interest 3.13%
house 2, debt 460k - DIBS, will need to serve the installment 1Q 2015, installment about 2.1k a month, BLR-2.4
car loan , 100 k , interest 2.48 % monthly installment 1874, 5 year,

how should i restructure my debt?

my income to debt ratio is 90 % at this moment

Sorry, if all are having thinking of me, a rm130k 9 year old terrace house till today only can be sold at rm180k.
But with your mindset, then you have to buy the terrace house at rm500k.
Is we our self that make the money depreciate.

Developer is already out of the picture once the property is completed and handover to customer.
The financing part is only between the bank and buyer (prop owner).

Prepayment comes in many form but let me explain in flexi-home loan for better understanding:
Let say you have outstanding loan balance (OS) of Rm100k.
You have Rm20k cash you wanna pre-pay for the loan.
So your OS becomes Rm80k. The day Rm20k was credit into your loan account, the interest calculation is base on the new OS of Rm80k.

The next day you wish to take out Rm5k from the pre-pay of Rm20. Your new OS is now Rm85k. And so the interest is calculated on Rm85k.

Property loan interest calculation is on DAILY rest. Like FD is on ANNUAL rest. Compounded DAILY or ANNUALLY. Can you imagine (hypothetical) FD is 3% on DAILY rest. Your money + interest is compounded DAILY. You make a lot of money. 

But banks wanna make money mah .... so here is the real scenario
LOAN: Rm100k. Interest: 4% per annum (Compounded DAILY). 12 days to make Rm4,074.
FD: Rm100k. Interest: 4% per annum    (Compounded ANNUALLY). 12 months to make Rm4,000

Understanding this concept of bank calculation, don't you think PRE-PAYMENT is a better option?
Many will look at interest per annum only but with TIME factor, banks will always beat you to the game.

Developer is already out of the picture once the property is completed and handover to customer.
The financing part is only between the bank and buyer (prop owner).

Prepayment comes in many form but let me explain in flexi-home loan for better understanding:
Let say you have outstanding loan balance (OS) of Rm100k.
You have Rm20k cash you wanna pre-pay for the loan.
So your OS becomes Rm80k. The day Rm20k was credit into your loan account, the interest calculation is base on the new OS of Rm80k.

The next day you wish to take out Rm5k from the pre-pay of Rm20. Your new OS is now Rm85k. And so the interest is calculated on Rm85k.

Property loan interest calculation is on DAILY rest. Like FD is on ANNUAL rest. Compounded DAILY or ANNUALLY. Can you imagine (hypothetical) FD is 3% on DAILY rest. Your money + interest is compounded DAILY. You make a lot of money. 

But banks wanna make money mah .... so here is the real scenario
LOAN: Rm100k. Interest: 4% per annum (Compounded DAILY). 12 days to make Rm4,074.
FD: Rm100k. Interest: 4% per annum    (Compounded ANNUALLY). 12 months to make Rm4,000

Understanding this concept of bank calculation, don't you think PRE-PAYMENT is a better option?
Many will look at interest per annum only but with TIME factor, banks will always beat you to the game.

loan for fun
coz interest rate low.
the bank officer keep calling me for the loan

Wrong=> LOAN: Rm100k. Interest: 4% per annum (Compounded DAILY). 12 days to make Rm4,074.

your commitment exceed 90% of your total income ?
how do you get approval from bank with such over commitment ....

Not so fun after all.

Your personal loan is 3.13% p.a. flat rate, if converted to actual effective rate is 5.90% p.a.
You got conned by the bank office liao.
From your RM50K cash in hand, 80% are from personal loan with a cost of fund of 5.90%. Where got fun like that ?

Your current year interest cost for all your loans is approx RM47,754.00. How much is your net income after tax per annum ?

How to calculate annual effective rate

If can pull through this.. Will be millionair and possible with rental income

your commitment exceed 90% of your total income ?
how do you get approval from bank with such over commitment ....

make sure you sell that second house before the financial crisis cycle starts..