shocking footage of man evicted from his home by bankers

[god_zeus]

wat has our world become?
will HDB do this?

drama starts at about 3.31mins
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[Leongsam]

Allowing someone who doesn't pay their mortgage to stay on is grossly unfair to all those who pay their debts on time, every time.

 

[radii]

Whats the big deal here? nabeh no money still want stay such big house ? Derserve to be kicked out haha

 

[myfoot123]

Allowing someone who doesn't pay their mortgage to stay on is grossly unfair to all those who pay their debts on time, every time.

There is never ending debt in a capitalist country. Once you finished paying your mortgage, you will still meet the same fate if you fail to pay town council conservancy fee. Same if you fail to pay your utitlities bills....nothing belongs to you, we live to pay a greedy government throughout our life. Oh,,,if one fail to pay medical bill, will the authority confiscate the home too? Too early to tell for now. With Singaporean grossly underpaid, and medical bill always on the rise, it is likely the govt will force sale your home to pay for the medicals. Sound too far fetched? who knows what they are planning behind close door now.

 

[myfoot123]

Whats the big deal here? nabeh no money still want stay such big house ? Derserve to be kicked out haha

They can still stay in the suburb country side, cheap and plant own fruits and vegetable. Singapore cannot, we don't have country side. Imagine you can't move around in a prison under close watch by the guard. How to be free and find your affordable life when such things happened in Singapore?

 

[Leongsam]

There is never ending debt in a capitalist country. Once you finished paying your mortgage, you will still meet the same fate if you fail to pay town council conservancy fee. Same if you fail to pay your utitlities bills....nothing belongs to you, we live to pay a greedy government throughout our life. Oh,,,if one fail to pay medical bill, will the authority confiscate the home too? Too early to tell for now. With Singaporean grossly underpaid, and medical bill always on the rise, it is likely the govt will force sale your home to pay for the medicals. Sound too far fetched? who knows what they are planning behind close door now.

So what you're saying is that there should be no consequences for not paying???? Ask yourself why anyone should pay even if they can well afford to then.

The problem with the world nowadays is not capitalism or debt. It's the fact that nobody wants to take responsibility and accept the consequences for their own failures and that includes the inability to earn enough to support their lifestyles.

Banks don't force anyone to take out mortgages larger than what a house is worth. Humans do that all by themselves because they want a fancy house even though they can't afford the luxury.

 

[myfoot123]

So what you're saying is that there should be no consequences for not paying???? Ask yourself why anyone should pay even if they can well afford to then.Banks don't force anyone to take out mortgages larger than what a house is worth. Humans do that all by themselves because they want a fancy house even though they can't afford the luxury.

In Singapore, those who were forced out were people staying in smaller room HDB flat. Based on your argument, you think Tharman $1000/mth can own a flat sound prudent to you? That is the problem with this govt who constanly educate people that you can still lead a better life even if you are earning 3rd world salary and they put a cap to prevent you from being prudent and encourage you to upgrade and buy bigger home if you have certain income ceiling. America don't have such rule. We do.

 

[Leongsam]

In Singapore, those who were forced out were people staying in smaller room HDB flat. Based on your argument, you think Tharman $1000/mth can own a flat sound prudent to you? That is the problem with this govt who constanly educate people that you can still lead a better life even if you are earning 3rd world salary.

The HDB scheme is the envy of the rest of the world. Those who get thrown out only have themselves to blame. The HDB provides public housing not free board and lodging.

 

[myfoot123]

The HDB scheme is the envy of the rest of the world. Those who get thrown out only have themselves to blame. The HDB provides public housing not free board and lodging.

My grandmother stayed in her own kampong land for free, this govt took her land away for peanut and sell it back to us at sky high price. Who is exploiting who?

 

[god_zeus]

Whats the big deal here? nabeh no money still want stay such big house ? Derserve to be kicked out haha

nabeh
all the england house like that la..all big big like bungalow
somemore the guy is a old man..

 

[Leongsam]

My grandmother stayed in her own kampong land for free, this govt took her land away for peanut and sell it back to us at sky high price. Who is exploiting who?

My ancestors lived in free caves and so did yours. They eat the free food they hunted and did their shits in the bushes and washed their asses in a nearby stream once a week if they were lucky.

If you want to go back to a similar way of life, I'm sure you can find a place that suits your lifestyle.

 

[myfoot123]

and did their shits in the bushes and washed their asses in a nearby stream once a week if they were lucky.

.

If PUB cut your power supply and utilities, you will still end up in nearby bush and stream too or you prefer to keep your ass tight until you foot your utilities?

 

[Leongsam]

If PUB cut your power supply and utilities, you will still end up in nearby bush and stream too or you prefer to keep your ass tight until you foot your utilities?

Most of the down-and-out simply use the coffee shop toilets for FREE.

 

[singveld]

It is not his home. The place belong to the bank, the bank just allow him to stay in the past when he pay monthly mortgage, when he stopped paying mortgage, the bank ask him to leave.

It is only his home, if he paid the house in full with cash.

 

[Leongsam]

It is only his home, if he paid the house in full with cash.

People also tend the to forget that the bank isn't lending their own money when they hand out a loan. It's money that belongs to depositors.

Those who rant and rave about how cruel banks are would be singing a different tune if they had a a $100,000 term deposit and the bank called them up and told them... "sorry.. we can't pay you back because of all the mortgage defaults we've had recently. We can't foreclose because it would be cruel so we're letting them stay on for free so that's why we can't pay you.".

 

[numero uno]

wat has our world become?
will HDB do this?

drama starts at about 3.31mins
<iframe width="420" height="315" src="http://www.youtube.com/embed/V9u_rV7VGqw" frameborder="0" allowfullscreen></iframe>

what's so shocking? It happened very often in Ireland , greece, spain, italy, almost all of europe and USA last few years when property prices escalate due to irrational greedy developers , real estate agents and mass media and newspapers who keeps spinning positive false news and fairy tales that prices would go up and up and then suddenly when prices crash , this is what happens (like in Europe and US now fire sale is so very common, that for the price of a COE in singapore you can buy an apartment there now!!!!). those stupid people who buy are also equally to be blame.
They should show make it compulsory to for banks to show these movie clips to all buyers before they sign. being old is NOT an excuse as it does not mean you are immune to taxes, debts or stupidity. I have seen alot of old arrogant stupid people who like to how lian and buy big cars and houses but cow beh and cow bu when the repo man comes knocking. these people are deadwood to society.
It would happen in singapore very soon. same for car prices. it is a bubble going to burst. even in China it has burst, just that the garmen there has put a gag on the news and that's why BoXil@i wife is hurriedly getting all her money and cash out of China secretly. Tells you alot when even the top people in China knows something about the state of economy not published in the media and do not even trust their own country or economy!!!!!

 

[StinkiePeasants]

It is only his home, if he paid the house in full with cash.

According to Robert Kiyosaki's rich dad, even if a house you are living in has been fully paid off free and clear of any encumbrances, it still doesn't belong to you.

Try stop paying your state and local property taxes (in USA) or council rates (in OZ, Ireland, UK) and see what will happen to the "owner occupier" of the house. And we are talking about freehold properties in Western countries... Not leasehold HDB properties.

 

[singveld]

I heard of no such thing. Sam leong, if you dun paid council tax, do you lose your home?

According to Robert Kiyosaki's rich dad, even if a house you are living in has been fully paid off free and clear of any encumbrances, it still doesn't belong to you.

Try stop paying your state and local property taxes (in USA) or council rates (in OZ, Ireland, UK) and see what will happen to the "owner occupier" of the house. And we are talking about freehold properties in Western countries... Not leasehold HDB properties.

 

[Leongsam]

I heard of no such thing. Sam leong, if you dun paid council tax, do you lose your home?

In some jurisdictions, councils have a right to seize your property if you are in arrears in paying your council bills. It could be your TV, your Hi Fi, your car or possibly the house you live in. It's no different from any other debt.

That's why many people place the ownership of their homes in a trust so that it stays out of reach of any creditors.

 

[drifter]

Allowing someone who doesn't pay their mortgage to stay on is grossly unfair to all those who pay their debts on time, every time.

yes , i do agree with you ..but please remember life is not fair welcome to earth