I had a chat with my colleague today and he mentioned this was mentioned in the stimulus package. I read the Sun but there was no mention of this. Only some house rebates. But maybe I missed something. Is it true? Thanks.

I don't think there's such a thing in the package.

i think it shoud be something govt propose to banks that shall the Bank allow an unemployed borrower to spare his unpaid loan repayment for 12 months, then the Bank is entitled to some kind of rebate/tax exemption thingy...at the end of the day, it is the Bank's call. Correct me if i was wrong, cos didnt go thru the contents in details yet

it may be good, however, those blood sucking banks surely will come up with their "creative" plan, where they may allowed unpaid 12 months loan repayment but the interest may be sky high. At last, who is the winner? of cos the vampire who get to suck blood and at d same time gotten blood supply from govt...

This post has been edited by bearbearhong: Mar 12 2009, 10:03 AM

Apparently, banks HAVE been provisioned to do the above (according to an interview I once heard). However it is up to the borrower to approach the bank and ask, where the bank will not initiate any such program (typicallah).

if this is true then bank will be winner coz can charge more interested at the same time can get tax exemption.

then maybe we should not borrow from banks
borrow from Ah Longs

Ah Long = die faster =.="
Bank no pay just bankrap
Ah Long no pay need cut finger

Ah long or Banks= Abang Adik laa...

Ah long Illegal borrower

Bank's legal borrower

if there is such package then it would be stated in the bank loan policy.

there is a term and condition, the house must be purchased last year if not mistaken.