Jan 19 2015, 11:53 PM
QUOTE(homosapien8888 @ Nov 10 2014, 06:36 PM)
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
First up... you are an idiot.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
Second up.... those financial institutions that loan you the money are greater idiots for making you an idiot in the first place.
OK, now come the advise part....
You said your DSR is 90%. Your total monthly commitment is about RM 8,400.
Max ceiling for DSR is 70%, so you need to reduce it by 20%. 20% of RM8,400 = RM1,680.00
You have RM 50k on hand. Pay off your PL with the RM50k and you immediately would have bring your DSR to 70%.
Good luck and sell one of your property if isn't generating positive cash flow. investment should make you money, not make you a poorer!
Xuzen
This post has been edited by xuzen: Jan 19 2015, 11:55 PM
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