How much is your outstanding housing loan?

[ToyotaShuttle]

On 5/11/2020 at 12:35 PM, Ody_2004 said:

Just got a quote.. $800! omg! 

very expensive just for some paperwork....

actually why do we even need lawyers to handle such simple work?

[Soya]

On 5/11/2020 at 12:35 PM, Ody_2004 said:

Just got a quote.. $800! omg! 

$800 to do paperwork to settle loan or keep record?

 

[Ody_2004]

45 minutes ago, Soya said:

$800 to do paperwork to settle loan or keep record?

 

Just to discharge the Title Deed not including settling of loan.. That be cleared by then..

Anyway I found a cheaper and more efficient Law firm to do at $600.. They are very prompt and polite unlike the $800 one.. sound like i committed a crime the way she talk to me.. 

[Mkl22]

49 minutes ago, Ody_2004 said:

Just to discharge the Title Deed not including settling of loan.. That be cleared by then..

Anyway I found a cheaper and more efficient Law firm to do at $600.. They are very prompt and polite unlike the $800 one.. sound like i committed a crime the way she talk to me.. 

Yes, Whatever is the cheapest. 

[Dafansu]

3 hours ago, Ody_2004 said:

Just to discharge the Title Deed not including settling of loan.. That be cleared by then..

Anyway I found a cheaper and more efficient Law firm to do at $600.. They are very prompt and polite unlike the $800 one.. sound like i committed a crime the way she talk to me.. 

just go for the cheapest will do. 

[Soya]

4 hours ago, Ody_2004 said:

Just to discharge the Title Deed not including settling of loan.. That be cleared by then..

Anyway I found a cheaper and more efficient Law firm to do at $600.. They are very prompt and polite unlike the $800 one.. sound like i committed a crime the way she talk to me.. 

I did my full loan redemption using DBS's panel lawyer who charged $450 only. Title deed kept electronically by SLA without annual charges. Smooth process overall.

 

[Ginyu]

Is it very easy to hit  ERS minimum sum just with CPF OA balance after you paid off mortgage loan?

Edited July 27, 2020 by Ginyu

[Throttle2]

45 minutes ago, Ginyu said:

Is it very easy to hit  ERS minimum sum just with CPF OA balance after you paid off mortgage loan?

 

your question sarcastic one is it.?

 

very easy in my case. All met already , and no loans whatsoever

[Ginyu]

16 minutes ago, Throttle2 said:

 

your question sarcastic one is it.?

 

very easy in my case. All met already , and no loans whatsoever

Friend say is the norm lei which is why I asked, he say in fact y still so little left only can hit ERS after the loan is cleared. He say better work harder🤣

[Angcheek]

1 hour ago, Ginyu said:

Is it very easy to hit  ERS minimum sum just with CPF OA balance after you paid off mortgage loan?

After clear loan .. work full time for another 5 to 6 yrs if u earn over 6k .  If u buy a flat at 25 , with 25loan ... by that time u clear , u in ur 50s. So just nice work till u over 55 . But hor , ERS will continue to rise ... 

[Ginyu]

53 minutes ago, Angcheek said:

After clear loan .. work full time for another 5 to 6 yrs if u earn over 6k .  If u buy a flat at 25 , with 25loan ... by that time u clear , u in ur 50s. So just nice work till u over 55 . But hor , ERS will continue to rise ... 

What I meant is after clearing loan, still got leftover balance to hit ERS even one don’t continue to work anymore🤣

Edited July 27, 2020 by Ginyu

[Throttle2]

The key is not to use your CPF too much for property.

and try to repay as soon as you can as there is accrued interest.

better still dont use it for property, cpf is for retirement.

i look at my CPF , i feel so rich

Edited July 27, 2020 by Throttle2

[Dafansu]

Just now, Throttle2 said:

The key is not to use your CPF too much for property.

better still dont use it for property, cpf is for retirement.

i look at my CPF , i feel so rich

if u understand how CPF works, it's actually a very good saving scheme for retirement 😁

[Wt_know]

6 minutes ago, Dafansu said:

if u understand how CPF works, it's actually a very good saving scheme for retirement 😁

but how many of us can afford a hdb without touching cpf?  

the strawberry gens huat ah!

Group A ... by age 30 ... salary no $25k no talk liao

Group B ... by age 65 still paying mortgage for the no $500k no talk hdb

Edited July 27, 2020 by Wt_know

[Throttle2]

1 hour ago, Angcheek said:

After clear loan .. work full time for another 5 to 6 yrs if u earn over 6k .  If u buy a flat at 25 , with 25loan ... by that time u clear , u in ur 50s. So just nice work till u over 55 . But hor , ERS will continue to rise ... 

After clear mortgage loan still have to repay CPF, otherwise the accrued interest will keep accumulating. 

I rather leave my CPF untouched to collect high interest rate. 2.5%pa in todays environment, sibei song ah!

huat ah!

[Throttle2]

12 minutes ago, Dafansu said:

if u understand how CPF works, it's actually a very good saving scheme for retirement 😁

Of course, i am very pro CPF.

my CPF is untouched, earning interest in Ordinary acct Special acct medisave acct, whatever f**k acct...

damn shiok

[Wt_know]

1 minute ago, Throttle2 said:

Of course, i am very pro CPF.

my CPF is untouched, earning interest in Ordinary acct Special acct medisave acct, whatever f**k acct...

damn shiok

but sinkie mindset is hdb pay finish liao must upgrade condo ... take another 20 years loan 

sibei song ah!

[Throttle2]

4 minutes ago, Wt_know said:

but sinkie mindset is hdb pay finish liao must upgrade condo ... take another 20 years loan 

sibei song ah!

Aiyoh, so sad.  Sinkie, good luck!!!