i will share a situation that involves my friend. its due
to terrible money management and the lack of my new religion,
common sense.
1) father sold the previous flat and bought a maisonette,
therefore taking a huge housing loan. so the father kept most
of the cash in the pocket.
2) after many many many years of not paying the loan and
accumulated interest, HDB finally told them to downgrade if they
can't pay.
3) friend's name must come in now to service the loan for the
downgraded flat.
4) if they sell the maisonette now + fully pay the special deal
downgraded flat by HDB, they still pocket some cash.
5) but father wants to clear the debt only and keep the rest of
the money in pocket.
song boh?
