Long term housing loan

Housing Loan

Photo courtesy:http://business.rediff.com

To own a home is everyone's dream. However buying or building a house may require you to take up a loan, if you aren't well off.

The Malaysian Housing and Local Government Minister, Datuk Chor Chee Heung urged house buyers to take up long-term housing loan which extends to second generation. And his point for suggesting, here

“If loan repayment is extended to the second generation, that means the family will remain intact,..” Background music "KUANG, KUANG, KUANG...JENG!

The Minister seemed to have found the solution to family breakups! Don't you think so? So if anyone is facing family problem please consider taking up this long-term loan

He also refuted “I don’t think it is a burden for the next generation because the repayment is spread over a long time,” adding that the younger generation is financially strong and can even afford to buy another house.  How does he KNOW that the younger generation will be financially strong?

Another smart alec, MBSB chief executive officer Datuk Ahmad Zaini Ithman said the idea of offering longer-term housing loans was to preserve the value of assets or investments. News source The Star. As far as I know the longer the term, the more interest you pay which inflates the repayment amount to almost 100% -150% of the original loan amount. So, as far as the house owner is concern the value of property is equal to the total loan amount paid. Imagine taking an inital loan of RM300,000 for up to 70 yerars of age and end up paying RM700,000. One can buy two houses for the amount repaid! How does the loan preserves the asset's value? It only eats into the appreciated value.

Long-term housing loans comes with high interest rate and long repayment period, not mentioning the HIDDEN CLAUSES to trap the naive house buyers. Ask any financial expert and they would suggest you to be debt free and repay your loans as soon as possible. How sure is the Minister that the children will repay their parents debt? In this era, where parents are neglected at old age how sure is he that the family will remain intact?. Then comes family feud of owning the house between siblings. So many possibilities.

All parents think of a better future for their children and not create burden for them. No doubt it is a house but it is not the child's responsibility to continue service the loan. I don't want my child to be a debtor, I want them to inherit a debt-free home.

Migrate to New Zealand.

Photo source:http://www.travelwizard.com/newzealand/

Have you ever wished for living a less stressful life? Wished for relaxed pace of life and ease of doing most official or government matters? Wished to feel safe and have a sense of freedom? Have you thought of migrating to New Zealand? If you are one of those people who are considering migrating to New Zealand then this site (click here) might provide you with legal matters.

Once in New Zealand, what are you going to do for a living? If you aren't rich to begin a business then you do need a job. If you are in search of employment, there are multiple opportunities in many different sectors of the economy. You can find job openings in agribusiness, tourism, manufacturing, professional sectors, service and hospitality, among others. New Zeland seeks the more skilled and qualified person and if you are one then more likely you will be able to find work. You can apply for residency under the Skilled Migrant Category (SMC). New Zealand believes that a skilled person could contribute to the economy.

Find out more information from here (click here) on how to make New Zealand as your home.

Disneyland vacation - cheap and affordable



Disney characters. Photo source courtesy of disneypicture.net

 Disney have made millions of children and adults around the world happy with their cartoon characters. Disneyland also have theme parks for fans to visit and enjoy themselves. It's a great place for families to spend their vacation.

While Disney World can be fun, it can be expensive too if you aren;t prudent with money.There are families who needlessly waste their money. Some would argue, it's for fun sake, but is it worth it to put a hole in the wallet?

Fortunately there is a way to have fun and you need not spend too much money too! Now isn't this great? These money saving tips while on Disney vacation are given by a Disney insider. Who can beat that?

If you are planning to go to Disneyland with your family, you should read these tips, Click here!. It could save you a lot of money. You can spend a fraction of what other families spend and still get the most fun. It would be better to get the advice from Disney Insider, click here!. Hope you enjoy yourself at Disneyland. Send my regards to Donal Duck!.