Interesting Proposition

So, it’s a Sunday. My whole body is bloody aching because of the friendly badminton game yesterday for 2 hours. The last time I played badminton, ‘twas waaaaaaaaaaaaay back in year 2007 already. Hence the body aching part, from top to bottom. Damn! But I heard from the lads that it’s gonna be a weekly ‘affair’ for them to play badminton on Saturday. Hmmm, perhaps I might need to get myself a pair of sport shoes suitable for that as well.

Had lunch with one of my mates earlier. He told me about a very interesting proposition. I ain’t sure about this myself, so here goes. Don’t quote me on this, you do your own judgment.

My friend works in a company that deals with lotsa things, from legal to accounting to new company set-up and stuff like that. He asked if I have friends that are currently still in the midst of paying off their property mortgage. Of course there are! In fact most of my mates are having that at the back of their shoulder, which is quite a burden to ‘em.

Great! This is where the ‘interesting’ stuff gets in.

Apparently early this year, our ‘beloved’ government has somehow approved a policy whereby all property owners will have the option to reduce the rates of their repayment periods. The only thing is that those owners will have to proceed directly to the financial institutions where the owners got their mortgage approved previously and make such request. But then again, please keep this in mind: “Will they be so goddamn stupid to reduce something that they worked so hard to gain?”

Absolutely NOT!!!!

Hence, this company that my mate is working in, acts as an intermediary between the owner and the financial institution. He will collect all the documents from the property owners, and submit it to the involved financial institution for their reviews. If you have no financial complications, the whole process will take about 1-3 months top to conclude.

But of course, all these come with a price. There will be a “administration”/”processing” fee involves during the whole process. The property owner will have to pay around 2000 to 3000 for it. Don’t worry, it’s a one-off fee.

Yes. It might sound costly for something that is not certain that the we will win the case for sure. But what if it really got approved by the government? You will end up saving hundreds of thousands depending on your mortgage figures! In addition to that, you might be starting paying the principal of the said mortgage, ‘cos the interest rates have been strike off [case to case basis].

Well, it’s all up to individual. This is a legal stuff. It’s not being published/announced by all the financial institutions locally ‘cos if they do, that would’ve dented their ‘business growth’ altogether. Hence this kinda ‘opportunity’ has fallen into my mate’s company.

That’s just what I’m going to share with you lots today. I might have try on this if only I possessed my own property. But sadly, no. Sigggggghhhhhhh….

Ahh well, it’s close to midnight already. I’m a normal person with a normal life now. It’s time for bed.

Be back for more!