Keep the 50K, no need FD, but safer will be FD. For me, sell the car. The house rent it out. Work part time. Get a higher salary full time job.

thanks for the advice.i had think hard b4 buying a car. expecting it will suck up my cash. but what to do , nowaday ppl see what car u drive, u drive old car , no salesman will entertain u, yr friend will think u r not doing well. it took me 11 year b4 i change my old car to my new car. thats the reality in life

This.

Your biggest cash-milking are 1. Personal Loan & 2. DIBS House

Focus on making these two your priority to settle, i.e. pay off PL and rent out 2nd house possibly equal to your bank payment

personal loan 3.13%, how to get this offer?

Split the 50k. 25k into 1st house as advance payment.. 1 year no need to worry about the loan repayment. Another 25k. Dump 15k into personal loan. Few months no need worry about payment. Left 10k. Dump this into car loan as advance payment or 2nd house loan. Like this, it ll flex your monthly commitment n u have surpluses of salaries on hand in which u can accumulate another bag of cash or savings after 6 months later n think what to do with the new savings. Still have epf to pay house no. 1 later if cash flow is tight. This is what I ll do.

wow,....good and fresh ideas. learn another tips today.

any possibility you taking UOB bank, HSBC bank , citibank, maybank am bank, public? you will get to see BBW very soon upon defaulting

personal loan 3.13% per annum? if that's the case, don't pay them back cause that's lower than FD rate of above 4%

use the 50k as downpayment for a subsale property around <RM300k for rental play. If cannot get loan already, refinance house no.1 for extra cash flow.

if those are not to your taste, I think the most viable option is change wife.

how much landed wanted to sell? wnted what area maybe

refinance hard, you already 90% debt right? if i am not wrong, you wont have ability to repay, i know refinance can get cash, but need to pass threshold first..

further more once refinanced, property need to sell above million but you bought time to service loans

thanks for yr advice. i have an idea how to use my 50k edi
cannot change wife la.

lol.. ask wife to chip in for repayments... 100k volks? civic?

actually whenever i borrow loan, the bank officer also say hard to approve need alot of document, but once my application reach to their HQ, my loan will eventually approved by HQ

This post has been edited by homosapien8888: Nov 10 2014, 10:03 PM

bro, you sure you going to do this? debt on top of debt...

dont want to touch money from " women"

nope .. i bought a segment D car

bank call to offer , some time u just need to be nice to the tele banking...

was thinking about it

my loan remaining amount about 444k
if i refinance 850k( current market value)
i will get 400 k cash le

thanks a very good advice

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).

Whoa bro.....debt ratio too high....only left 900~1k every month? Sorry for being captain obvious.

Anyway, I have similar thinking with bro Tigerr. Keep your 50k. use it for cash flow purpose. now you have to play the cash flow game. I have an excel that handles my cash flow. not sure if its useful for u.

Debt

*I made some correction. have a look. should be correct now.

This post has been edited by StereoPony: Nov 10 2014, 10:49 PM