Good f ing luck to all loan compressors. May u find a place to hide following ur f ups

I do hv relative exactly in-contrast with what u said. How much do u know about the riches to make above generalised statement lol. But low profile or not is beyond the discussion in this topic. Peace. I stop here.

This post has been edited by metaclaw: Jan 4 2020, 11:30 PM

Compressed loan also need to pay with instalment pay tax nth is free. But if theh overestimated themsf and fail to repay then they will bear the consequence don need so much hates lol 😂

But if u are referring to me then don need worry as my dsr is still below 50% after all loans approved.

This post has been edited by metaclaw: Jan 4 2020, 11:38 PM

Dude , can u please stop making stupid statement like this?

Already want hide behind your new id but still dont learn ur lesson?

He knows nothing, just act smart and think he knows it all. We all know his pattern in this forum long ago

Hi ya to recap the topics was supposed to be a professional discussion of probability of loan being capped 70% vs being cancelled if one happened to buy and summit loan for two different projects at the same time.(In the case if DSR not high, without false declaration, documents etc)

purpose? to buy at same time and try to get more loan

This post has been edited by metaclaw: Jan 5 2020, 01:06 AM

Tried to secure 90% ltv for >2 property is against bnm guidelines. What action bank will take depends on its policy e.g cancel or reduce loan amount, report to bnm, etc.

Ya. Hopefully they wont cancel it as I am a genuine buyer. It also give an impression that applying loans for few houses is wrong even though u r qualified lol.

This post has been edited by metaclaw: Jan 5 2020, 09:15 AM

Everyone who took up loan compression is genuine buyer.

This post has been edited by icemanfx: Jan 5 2020, 10:38 AM

Disagree. If u r taking loan beyond your affordability then how genuine u r?

Buying and affordable is different matters. A reason why there are many foreclosure.

Again foreclosure depends on your affordability. If u fail to repay then u deserve for it. I found the policy is ridiculous that u r totally alright if u just buy one. But if u buy 2 properties suddenly u become so wrong even though u totally afford it. And this act attracts curse from followers here lol.

Btw is there any law stating u cant buy two properties at one time?

This post has been edited by metaclaw: Jan 5 2020, 12:35 PM

U can buy as many properties as u want. But definitely not using loophole method, to avoid 70% borrowing

Loophole means exploiting and i understand the policy purpose is to suppress over borrowing. Just in the meantime i also found it ridiculous to punish those ppl who really wants to buy 2 properties.
Whats wrong for them to buy 2 properties? Is there any law stating u cant buy 2 properties at the same time? If no then whether it is a loophole or not it is also not buyers fault provided u r totally afford for it and not exploting for overborrowing.

There is no law to stop you from buying properties. And there is nothing wrong for anyone to buy as many properties they want. The discussion here is what method you are using to buy? Is it legal to exploit loopholes to buy properties?

In some countries, loan compression is considered loan fraud, could be jailed.

wat country

u.s.a

When you bought the 2 properties at the same time and submitted yr loan application forms same times, did you declare both of your properties same time in all the loan application same time boh???

If yes why are you worried ghost and god?

gotta agree with scarypoolparty on this one. no need to sympathize.
people thinking got free lunch probably deserved to have their lunch (money) taken away.

when i started, its an agent who approached me with this idea buying some popoti in sg besi, with compression loan. honestly i was attracted, cause he didn't mention any downside, making it sounds easy to just continue buying popoti and refinancing every few years to get more money to buy more popoti. but when i go back and do the math, i realise you do need to pay higher installment for the refinance and from installment from new popoti you acquired with the refinanced cash. so it will keep snowballing until ?
either you die broke, or live long enough for the popoti to actually make profit either through appreciation or rental. looking at the news and forum we know how it went down.
for guru and agents who teach you this method, they are like one night stand. they disappear after getting something from you. they have vested interest. and the way they make money is through you. so they would have told you the shit smells nice if you pay them (enough). you owe it to your own to look out for yourself.

people now really are too lazy to properly get to know something before diving in. everything want to be fast. can earn money ? ok onz. high return? bbb.looking at AW videos all i was thinking like "wtf so easy 給他爆(maxing the DSR)", projection all do nicely and all harping the same kind of noise dreaming ez money, who can actually guarantee property price to increase 100% in the next 5 years, and who will buy from you? got brain no use. blinded by greed per icemanfx, but also deserved to be waterfish cause they lazy.
well, ez money for the conman, or popoti gurus, no difference.
but then again, i might be biased. cause someone trying to one up me years ago and fighting bankruptcy now. can't really say i feel bad for him.

if so easy get rich there wont be people living on the streets d.

if so easy for property guru with their knowledge to earn money, they would be busy earning money instead of teaching you, unless you're the way they make money.

painful lesson for them. hope it guides others from repeating their mistake.