Scb11980 1st Gear March 10, 2012 Share March 10, 2012 Today, a group of us got treated to lunch by a banker wthe topic of HDB came up government keep hantam us about HDB being an asset how come HDB cannot be used as a collateral for anything anybody can explain 40-50years ago i can understand but today, many HDBee owners are very rich, some even own many district 10 properties that was before the new rule kick in confused ↡ Advertisement Link to post Share on other sites More sharing options...
Camrycamry 1st Gear March 10, 2012 Share March 10, 2012 On 3/10/2012 at 7:22 AM, Scb11980 said: Today, a group of us got treated to lunch by a banker wthe topic of HDB came up government keep hantam us about HDB being an asset how come HDB cannot be used as a collateral for anything anybody can explain 40-50years ago i can understand but today, many HDBee owners are very rich, some even own many district 10 properties that was before the new rule kick in confused HDB can never be an asset! Unless you intend to sell and stay in tents by the beach Link to post Share on other sites More sharing options...
Toothiewabbit Supersonic March 10, 2012 Share March 10, 2012 On 3/10/2012 at 7:22 AM, Scb11980 said: Today, a group of us got treated to lunch by a banker wthe topic of HDB came up government keep hantam us about HDB being an asset how come HDB cannot be used as a collateral for anything anybody can explain 40-50years ago i can understand but today, many HDBee owners are very rich, some even own many district 10 properties that was before the new rule kick in confused Only MIW has the answer to this mystery, like many other mysteries in sunny Singapore. Link to post Share on other sites More sharing options...
Toothiewabbit Supersonic March 10, 2012 Share March 10, 2012 On 3/10/2012 at 7:22 AM, Scb11980 said: Today, a group of us got treated to lunch by a banker wthe topic of HDB came up government keep hantam us about HDB being an asset how come HDB cannot be used as a collateral for anything anybody can explain 40-50years ago i can understand but today, many HDBee owners are very rich, some even own many district 10 properties that was before the new rule kick in confused Only MIW has the answer to this mystery. Link to post Share on other sites More sharing options...
Darthrevan Supercharged March 10, 2012 Share March 10, 2012 it can be an asset if one downgrades or lease buyback scheme or buy a studio apartment Link to post Share on other sites More sharing options...
Scb11980 1st Gear March 10, 2012 Author Share March 10, 2012 what i meant as asset is if government say HDB is own by "owners" and is an asset why banks dont allow fully paid HDB as collateral for loans such as car or anything else Link to post Share on other sites More sharing options...
Bystander50 5th Gear March 10, 2012 Share March 10, 2012 On 3/10/2012 at 7:22 AM, Scb11980 said: Today, a group of us got treated to lunch by a banker wthe topic of HDB came up government keep hantam us about HDB being an asset how come HDB cannot be used as a collateral for anything anybody can explain 40-50years ago i can understand but today, many HDBee owners are very rich, some even own many district 10 properties that was before the new rule kick in confused HDB owners do not even get a title deed, so how to consider it as an asset in the first place. Link to post Share on other sites More sharing options...
FastFastCar Neutral Newbie March 10, 2012 Share March 10, 2012 On 3/10/2012 at 8:51 AM, Scb11980 said: what i meant as asset is if government say HDB is own by "owners" and is an asset why banks dont allow fully paid HDB as collateral for loans such as car or anything else As a half baked lawyer, let me answer you, hdb is a close mortgage whereas private property is a open mortgage, as to why, you need to ask our law minister, anyway you drive 300k car why are you bothered about hdb Link to post Share on other sites More sharing options...
JJ_JJ Clutched March 10, 2012 Share March 10, 2012 On 3/10/2012 at 7:22 AM, Scb11980 said: Today, a group of us got treated to lunch by a banker wthe topic of HDB came up government keep hantam us about HDB being an asset how come HDB cannot be used as a collateral for anything anybody can explain 40-50years ago i can understand but today, many HDBee owners are very rich, some even own many district 10 properties that was before the new rule kick in confused With the placement of Minimum Sum the higher the HDB pricing ==>> you confirm cant get your cpf money by while being alive....It may be so called an asset pass down to next generation but never an asset with liquidity you wished while you are alive Link to post Share on other sites More sharing options...
Vid Hypersonic March 10, 2012 Share March 10, 2012 HDB is an asset when one passes away. Link to post Share on other sites More sharing options...
FastFastCar Neutral Newbie March 10, 2012 Share March 10, 2012 On 3/10/2012 at 11:01 AM, Vid said: HDB is an asset when one passes away. Becos of hps? Link to post Share on other sites More sharing options...
Scb11980 1st Gear March 10, 2012 Author Share March 10, 2012 On 3/10/2012 at 10:31 AM, FastFastCar said: As a half baked lawyer, let me answer you, hdb is a close mortgage whereas private property is a open mortgage, as to why, you need to ask our law minister, anyway you drive 300k car why are you bothered about hdb sabbie please remember that when we have made it in life (depend on individual criteria) it is good to return to society Link to post Share on other sites More sharing options...
Vid Hypersonic March 10, 2012 Share March 10, 2012 On 3/10/2012 at 11:07 AM, FastFastCar said: Becos of hps? Nope. Because by then the HDB will be sold and you can't buy another one. Your offsprings will benefit Link to post Share on other sites More sharing options...
JJ_JJ Clutched March 10, 2012 Share March 10, 2012 On 3/10/2012 at 11:07 AM, FastFastCar said: Becos of hps? Literally and lawfully correct. But i think meant when one passes on....the next of kin inherits it. Link to post Share on other sites More sharing options...
Kopites Supersonic March 10, 2012 Share March 10, 2012 On 3/10/2012 at 11:21 AM, Vid said: Nope. Because by then the HDB will be sold and you can't buy another one. Your offsprings will benefit Partly disagree with you bros. The current sky high px of HDB might need at least two generation to pay it off. So technically u pass down to your offspring a long term liability obliagation instead of an "asset". Link to post Share on other sites More sharing options...
FastFastCar Neutral Newbie March 10, 2012 Share March 10, 2012 On 3/10/2012 at 11:18 AM, Scb11980 said: sabbie please remember that when we have made it in life (depend on individual criteria) it is good to return to society Who sabbie, so what have you return to society? By posting in Mcf? Link to post Share on other sites More sharing options...
JJ_JJ Clutched March 10, 2012 Share March 10, 2012 On 3/10/2012 at 8:51 AM, Scb11980 said: what i meant as asset is if government say HDB is own by "owners" and is an asset why banks dont allow fully paid HDB as collateral for loans such as car or anything else If thats what you meant, then HDB is 10000x NOT an asset, contractul wise, HDB "owners" are just "leasee" to the HDB; it is classified as a capital asset of the country. The country is the owner, we can never be. Link to post Share on other sites More sharing options...
FastFastCar Neutral Newbie March 10, 2012 Share March 10, 2012 Many people fully paid up their hdb but as it is a closed mortgage you can take an equity loan, the only way to get $ outta it is to rent it out ↡ Advertisement Link to post Share on other sites More sharing options...
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