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18-12-2013, 04:46 PM
(This post was last modified: 18-12-2013, 04:53 PM by specuvestor.)
<AMENDMENT>
Actually I think this is the response by NTUC with ref to the article I mentioned:
http://www.income.com.sg/aboutus/release.../jul27.asp
But I think reverse mortgage making come back with HDB offering it for the older folks, according to my father in law.
http://mycpf.cpf.gov.sg/Members/HSG-Site...-Popup.htm
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
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(18-12-2013, 04:46 PM)specuvestor Wrote: To clarify, the news/ complaint I read are directed to pte banks, not HDB
But I think reverse mortgage making come back with HDB offering it for the older folks, according to my father in law.
http://mycpf.cpf.gov.sg/Members/HSG-Site...-Popup.htm
NTUC Income used to do reverse mortgage. For national service, I guess.
getting reverse mortgage at peak market value is dangerous. if HDB prices drops, at best, payout shrink. At worst, kenna 'margin call. Counting on the implied assumption that HDB has a social responsibility to keep reverse mortgage payout going.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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i think reverse mortgage is for retirees who have no legacy (aka no children). But mostly for retirees who run out of cash before run out of life. Downgrade first is the better option i think if available and the old folks don't mind moving.
In other words, i think it is the worst choice.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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