Condo Unit Or House & Lot?

[THUG]

Do you have proof on these claims????

 

For a one million loan payable in ten years on a straigth line amortization with a 20% interest rate per annum

 

you will end up paying 3 million in total

 

and in-house financing for Condo Development does not exceed 15years

 

and FYI, banks and Finance houses do not charge more than 10% over the stated BSP 91 Day T Bill Rate for a long term loan

 

yesterday, the BSP 91 day T-Bill rate was 5.381%

 

so, the maximum interest rate per annum that banks and finance houses may charge for a long term loan is 15.381% and this rate is still negotiable

 

FROM WHERE ARE YOU GETTING YOUR INFORMATIONS???

FOR those who are planning to get a housing loan

don't go for the straight line amortization and with fixed per annum interest rate

go for the diminishing balance amortization with an adjustable rate per annum

 

if you are planning to get a loan from PAG IBIG

 

please read this note

 

Note: The interest rates on loans over two hundred twenty-five thousand pesos (P225,000) up to two million pesos (P2,000,000) shall be fixed for the first five years of the loan. At the beginning of the sixth year, HDMF shall reprice the outstanding balance of the loans at rates based on prevailing market rates at point of repricing, which shall not be lower than the original rates.

 

For reference, see current interest table of PAG IBIG FUND

 

 

YES I HAVE PROOF! I AM A VICTIM OF THESE f#&king BASTARD LOAN COMPANIES LIKE PAG-IBIG FUNDS AND BANKS!

 

THESE COMPANIES ARE SUCKERS!

 

DO NOT BELIEVE ALL THOSE OFFER'S THESE LOAN COMPANIES ARE SAYING!

 

IN THE END YOU WILL END UP A VICTIM. WORKING LIKE A HORSE (AND EVEN BEGGING FOR CLEARANCE TO BE SIGNED EVEN IF YOU ARE ALREADY FULLY PAID) JUST TO GET YOUR LAND TITLE BACK!

 

 

I CALL THIS KIDNAP FOR RANSOM COMPANIES! YOU HAVE TO PAY THE RANSOM (IN TERMS OF THE INTEREST, EXCESSIVE MISCELLANEOUS FEES) TO BE ABLE TO RECOVER YOUR LAND TITLE!

 

BE CAREFUL OF THOSE CONTRACTS THAT YOU ARE SIGNING, EVERYTHING THERE IS MEANT TO EXTRACT MORE CASH FROM YOU!

[Guest xHANGMANx]

see next post

Edited September 24, 2006 by xHANGMANx

[Guest xHANGMANx]

YES I HAVE PROOF! I AM A VICTIM OF THESE f#&king BASTARD LOAN COMPANIES LIKE PAG-IBIG FUNDS AND BANKS!

 

THESE COMPANIES ARE SUCKERS!

 

DO NOT BELIEVE ALL THOSE OFFER'S THESE LOAN COMPANIES ARE SAYING!

 

IN THE END YOU WILL END UP A VICTIM. WORKING LIKE A HORSE (AND EVEN BEGGING FOR CLEARANCE TO BE SIGNED EVEN IF YOU ARE ALREADY FULLY PAID) JUST TO GET YOUR LAND TITLE BACK!

 

 

I CALL THIS KIDNAP FOR RANSOM COMPANIES! YOU HAVE TO PAY THE RANSOM (IN TERMS OF THE INTEREST, EXCESSIVE MISCELLANEOUS FEES) TO BE ABLE TO RECOVER YOUR LAND TITLE!

 

BE CAREFUL OF THOSE CONTRACTS THAT YOU ARE SIGNING, EVERYTHING THERE IS MEANT TO EXTRACT MORE CASH FROM YOU!

 

hmmmmm

 

you've paid out already your loan

 

means that you applied for your loan 15-25 years ago

 

so, it's just safe to assume that you are between 40-50 years old???

 

and that you received your loan between 1981 to 1991

 

hmmmmm

 

need to check the Prime Lending rates for that period to confirm that you were charged 20% plus on your loan

Edited September 24, 2006 by xHANGMANx

[THUG]

hmmmmm

 

you've paid out already your loan

 

means that you applied for your loan 15-25 years ago

 

so, it's just safe to assume that you are between 40-50 years old???

 

and that you received your loan between 1981 to 1991

 

hmmmmm

 

need to check the Prime Lending rates for that period to confirm that you were charged 20% plus on your loan

 

 

ITS NOT A MATTER WHETHER THE INTEREST RATE IS 20% OR 15% OR WHATEVER!

 

THE FACT THAT WHAT PAG-IBIG FUND IS DOING TO PUT ALL THOSE MISCELLANEOUS FEES AND TRICKING THE PERSON TO TAKE A LONG TERM LOAN LIKE 10 OR 20 YEAR LOAN IS ALREADY A SERIOUS OFFENSE!

 

IF YOU WORK FOR THIS COMPANY OR IN ANY LENDING COMPANY LETS MEET IN PERSON AND I WILL TEACH YOU A LESSON!

 

YOU LEECH!

 

BUTI NASISIKMURA MO PINAPAKAIN MO SA MGA KAMAG ANAK MO AT KINAKAIN MO GALING SA PANGLOLOKO NG TAO!

 

KAYA PALA PANAY ANG POST MO ABOUT CELLPHONE AT BILI KA NG BILI NG BAGONG CELLPHONE KASE YAN YUNG MGA PINAGHIRAPAN NG MGA TAO SA KAKABAYAD NG INTERES NG UTANG NILA!

 

THOSE PEOPLE VIRTUALLY WORK LIKE HORSES!

Edited September 24, 2006 by THUG

[lohengrimtams]

house and lot with garden

[Guest xHANGMANx]

ITS NOT A MATTER WHETHER THE INTEREST RATE IS 20% OR 15% OR WHATEVER!

 

THE FACT THAT WHAT PAG-IBIG FUND IS DOING TO PUT ALL THOSE MISCELLANEOUS FEES AND TRICKING THE PERSON TO TAKE A LONG TERM LOAN LIKE 10 OR 20 YEAR LOAN IS ALREADY A SERIOUS OFFENSE!

 

IF YOU WORK FOR THIS COMPANY OR IN ANY LENDING COMPANY LETS MEET IN PERSON AND I WILL TEACH YOU A LESSON!

 

YOU LEECH!

 

BUTI NASISIKMURA MO PINAPAKAIN MO SA MGA KAMAG ANAK MO AT KINAKAIN MO GALING SA PANGLOLOKO NG TAO!

KAYA PALA PANAY ANG POST MO ABOUT CELLPHONE AT BILI KA NG BILI NG BAGONG CELLPHONE KASE YAN YUNG MGA PINAGHIRAPAN NG MGA TAO SA KAKABAYAD NG INTERES NG UTANG NILA!

 

THOSE PEOPLE VIRTUALLY WORK LIKE HORSES!

 

 

 

:thumbsdownsmiley:

 

 

 

What I'm spending came from hardwork and dedication

 

for your information, I've been overseas for the last nine years and just recently returned. While overseas I've worked with CitiGroup

 

Currently, I'm doing loan processing for an overseas bank

 

the only experience I had with a local bank was with Rizal Commercial Banking Corporation in their Consumer Banking Group as a Credit Authorizer

 

the reason I have all of this information with regards to the Philippines Lending History is access of information

 

before I went overseas, I already build up relationship with Bankers here in Manila who are either former classmates from High scholl or college

 

one is working at the Bangko Sentral ng Pilipinas, that's why I still need to check the prime lending rates from 1981-1991 as these informations are not available on their website!

 

I think you were offended when I've guessed you age, which I'm assuming right now, you are much younger than my guesses

 

if you are younger than 40years old, it will not be possible for you to paid out your loan this early

 

if you want to meet, we have an EB this coming saturday

 

PM your number to Alter_i, coordinate with him with regards to the details of the EB

 

better to suggest to your Congressman to file or sponsor a bill in "TRUTH IN LENDING"

 

I'm not a registered voter and I'm not a taxpayer for the last nine years so I can not suggest it myself

Edited September 25, 2006 by xHANGMANx

[THUG]

:thumbsdownsmiley:

 

 

 

What I'm spending came from hardwork and dedication

 

for your information, I've been overseas for the last nine years and just recently returned. While overseas I've worked with CitiGroup

 

Currently, I'm doing loan processing for an overseas bank

 

the only experience I had with a local bank was with Rizal Commercial Banking Corporation in their Consumer Banking Group as a Credit Authorizer

 

the reason I have all of this information with regards to the Philippines Lending History is access of information

 

before I went overseas, I already build up relationship with Bankers here in Manila who are either former classmates from High scholl or college

 

one is working at the Bangko Sentral ng Pilipinas, that's why I still need to check the prime lending rates from 1981-1991 as these informations are not available on their website!

 

I think you were offended when I've guessed you age, which I'm assuming right now, you are much younger than my guesses

 

if you are younger than 40years old, it will not be possible for you to paid out your loan this early

 

if you want to meet, we have an EB this coming saturday

 

PM your number to Alter_i, coordinate with him with regards to the details of the EB

 

better to suggest to your Congressman to file or sponsor a bill in "TRUTH IN LENDING"

 

I'm not a registered voter and I'm not a taxpayer for the last nine years so I can not suggest it myself

 

 

I SOLD MOST OF MY PROPERTIES TO PAY FOR THAT STUPID LOAN!

 

IT WAS A TRICK! WHEN YOU SAY IT IS 10% PER ANNUM IT SHOULD WORK THE WAY A TRUST FUND WORKS!

 

IN A TRUST FUND YOU CANNOT GET THE ACCUMULATED COMPOUNDED INTEREST IN ADVANCE!

 

IN YOUR UNTRUTHFUL LOAN SCHEME THE OVERALL ACCUMULATED COMPOUNDED INTEREST GETS ADDED ON IMMEDIATELY TO THE MONTHLY PAYMENT EVEN IF THE TERM HAS NOT EVEN BEEN REACHED!

 

KUMBAGA PAGKAPIRMA AT PAGKAPIRMA MO PA LANG NG LOAN ACCEPTANCE KASAMA NA AGAD DYAN ANG "COMPOUNDED" INTEREST FOR THE END OF THE TERM

 

YOU BLOOD SUCKING LEECH!

 

sorry for the the thread readers. but from now on you know who are the companies and persons to avoid dealing with..

yun na lang masasabi ko, AVOID taking LONG TERM LOANS.. that is a trap..

 

gigipitin at iipitin ka lang ng bangko dyan, marami ako kakilala di na naka ahon sa utang nila at na repossesed na yung property nila dahil nag loan sa bangko.. the bank wants nothing more than acquiring that property of yours..

Edited September 26, 2006 by THUG

[Guest xHANGMANx]

1IT WAS A TRICK! WHEN YOU SAY IT IS 10% PER ANNUM IT SHOULD WORK THE WAY A TRUST FUND WORKS!

 

IN A TRUST FUND YOU CANNOT GET THE ACCUMULATED COMPOUNDED INTEREST IN ADVANCE!

 

2IN YOUR UNTRUTHFUL LOAN SCHEME THE OVERALL ACCUMULATED COMPOUNDED INTEREST GETS ADDED ON IMMEDIATELY TO THE MONTHLY PAYMENT EVEN IF THE TERM HAS NOT EVEN BEEN REACHED!

 

KUMBAGA PAGKAPIRMA AT PAGKAPIRMA MO PA LANG NG LOAN ACCEPTANCE KASAMA NA AGAD DYAN ANG "COMPOUNDED" INTEREST FOR THE END OF THE TERM

 

 

 

1TRUST FUND is a different financial market product from Housing loan

 

you can not compare the two

 

with a TRUST FUND, you are the one providing the money

 

you are entrusting your money to any financial house to do the investing for you

 

that's why you can not get the interest income in advance, and it will be only compounded if you will keep your interest earning to the original FUND

 

TRUST FUND IS AN INVESTMENT

 

 

 

2with Housing Loan, you are asking the financial house to give you money

 

and they are collecting the accumulated compounded interest included in your monthly payments because you've choosen to pay them a straight line amortization (equal amount of monthly payments for the whole contract of the loan)

 

HOUSING LOAN IS, WELL WHAT DO YOU KNOW, A LOAN

Edited September 26, 2006 by xHANGMANx

[paeng]

Given peak oil, one's better off with a farm.

[DyerseyBoy88]

condo in makati...

[grandnemesis]

I SOLD MOST OF MY PROPERTIES TO PAY FOR THAT STUPID LOAN!

 

IT WAS A TRICK! WHEN YOU SAY IT IS 10% PER ANNUM IT SHOULD WORK THE WAY A TRUST FUND WORKS!

 

IN A TRUST FUND YOU CANNOT GET THE ACCUMULATED COMPOUNDED INTEREST IN ADVANCE!

 

IN YOUR UNTRUTHFUL LOAN SCHEME THE OVERALL ACCUMULATED COMPOUNDED INTEREST GETS ADDED ON IMMEDIATELY TO THE MONTHLY PAYMENT EVEN IF THE TERM HAS NOT EVEN BEEN REACHED!

 

KUMBAGA PAGKAPIRMA AT PAGKAPIRMA MO PA LANG NG LOAN ACCEPTANCE KASAMA NA AGAD DYAN ANG "COMPOUNDED" INTEREST FOR THE END OF THE TERM

 

YOU BLOOD SUCKING LEECH!

 

sorry for the the thread readers. but from now on you know who are the companies and persons to avoid dealing with..

yun na lang masasabi ko, AVOID taking LONG TERM LOANS.. that is a trap..

 

gigipitin at iipitin ka lang ng bangko dyan, marami ako kakilala di na naka ahon sa utang nila at na repossesed na yung property nila dahil nag loan sa bangko.. the bank wants nothing more than acquiring that property of yours..

 

 

Why do I get the feeling you don't know what you're talking about? When you apply for loans and get approved, you sign contracts. Everything is stipulated in the contract. If you sign it it means you agreed to the terms and conditions. ERGO, they have your consent re rates, terms, fees, etc. Now if you don't like the terms then have it restructured or don't sign it at all. It's that easy dude. My guess is this...YOU NEVER READ THE CONTRACT AND YOU DON'T KNOW ANYTHING ABOUT INVESTMENT & FINANCE. Did you even check your schedule? I guess not. You didn't get suckered....you made a mistake in judgement and just don't want to admit because it will make you look like a fool.

[THUG]

Why do I get the feeling you don't know what you're talking about? When you apply for loans and get approved, you sign contracts. Everything is stipulated in the contract. If you sign it it means you agreed to the terms and conditions. ERGO, they have your consent re rates, terms, fees, etc. Now if you don't like the terms then have it restructured or don't sign it at all. It's that easy dude. My guess is this...YOU NEVER READ THE CONTRACT AND YOU DON'T KNOW ANYTHING ABOUT INVESTMENT & FINANCE. Did you even check your schedule? I guess not. You didn't get suckered....you made a mistake in judgement and just don't want to admit because it will make you look like a fool.

 

 

 

Kung sino pa ang mga edukado at marunong sila pa mga manloloko!

 

e ang karamihan ng nag lo-loan pa naman yung mga tao na mahihirap, tulad ng mga magsasaka, tindero ng fishball, driver ng jeep. tapos YANG MGA LINTA will make these persons sign a lengthy, fine printed, contract that you need a LAW DICTIONARY to be able to interpret!

 

KAYA PEOPLE, WHO READ THIS, BE CAREFUL

 

-----

 

based on my experience ha! mas sulit ang bayad mo at tapat pa pag makipag deal ka dun sa mga mahihirap na construction workers. lahat ng bayad mo bawat maliit na sentimo sulit at naisoli sa yo..

Edited October 1, 2006 by THUG

[mrsharpeye]

Condo unit first, then a house & lot. hehe

[vtecs]

i agree.. condo muna.. lots of condo hehehehe

[misterbig7]

house first then condo..then beach house..then golf fairway house or house in the mountains..then another condo for investment

 

the list just goes on and on..but never via financing because cash payments are always better..no repossessions and large discounts too for cash payments

 

cash is king..

[clubber_lang]

House and Lot. MTV Cribs style sana kaso not that rich...

[Candice]

ill buy CONDO first at this time

i mean mas gusto ko muna condo eh

kasi my security eh

tska lagi kasi me wla sa house eh

hmmm just like me nag u umpisa palang kaya

kaya i get condo muna

 

and den if i have a lot of money na

den ofcourse ill go for house and lot na diba

para for ever na

[cyber_devil]

ill buy CONDO first at this time

i mean mas gusto ko muna condo eh

kasi my security eh

tska lagi kasi me wla sa house eh

hmmm just like me nag u umpisa palang kaya

kaya i get condo muna

 

and den if i have a lot of money na

den ofcourse ill go for house and lot na diba

para for ever na

 

gusto mo share tayo sa condo sheila...hehehehe :evil: :evil: :evil: :evil:

[insomia]

I guess it depends if its a high density condominium. I lived in one when I was abroad and it sucks big time. Ever since that time, I would rather go with a house and lot.

[big-poppa-pimp]

house and lot pre nothing beats this thing that u can pass on

[Carmela]

of course hOuse & lOt... sawa na ko sa cOndO ko ih.

better pag hOuse talgah :heart:

[genuis8]

THUG, not to sound like I am siding w/ xHangmanx, but did you not see on paper exactly how much monthly payment you have to pay and for how many years? Granted there is a lot of fine print, but when you get a housing loan (or any loan for that matter), isn't the most important thing - How much is the monthly payment, and for how long?

 

I have checked the current websites of Metrobank and Bank of the Phil Islands (#1 & #2 currently) and they have a mortgage calculator that you can use to calculate what your monthly payment will be - as long as you input the loanable amount, the #years to pay, and the annual interest rate (which is 11% - 11.5%).

 

So as to not off topic, for me the best is to have my own house & lot BUT it would be very costly (aside from the issue of available land) in Manila. I will therefore settle for renting an apartment or condo, which makes a better financial sense for me at the moment. If I win the lotto, thats another matter entirely :cool:

[Grimace]

house and lot..condos a drag...

[unusual_suspect]

If you are in Manila .. and You want to invest here.. definitely a COndo can come in good speed .. you can lease it out since the urban lifestyle here in the Philippines is cactching on.

 

The other thing to consider would be cosmopolitan provincial cities like Cebu or Davao.. The houses are the prices of a studio or 1 br here and you can get a 2 br house in those places..

 

Again.. do your research

[nathalia]

nouse in lot....