Tag Archives: Housing Development Board

Counsellors find way out of debt for families

HDB’s specially trained staff have helped 800 families so far

ABOUT 800 families who owed the Housing Board money have downgraded to smaller flats in the past year, after receiving debt-management advice from specially trained HDB staff.

In an apparent move to tackle the growing number of households in arrears, the HDB, in September last year, started deploying these housing counsellorsin its branch offices.

And one of them, Ms C. Arasi, said that patience is key when it comes to dealing with home owners with difficult cases.

The bulk of her cases are the ‘more complex’ ones, such as divorced couples who try to push responsibility for settling the loan to the other party, or jobless workers who are unable to keep up with repayments.

The majority of those in arrears are odd-job workers without a stable income or Central Provident Fund (CPF) contributions, she added.

‘Previously, the block officers in charge handled these cases but they may not have the time or skills to deal with these people,’ she said.

‘We are trained to counsel, to empathise.’ Continue reading

Minister: Bridging loans will increase flat prices

Loans to help buyers pay cash-over-valuation?

ARE HDB resale prices rising too quickly, a situation worsened by exorbitant cash-over-valuation (COV) requests?

That is the hot topic among many Singaporeans over the past few months, as they find the booming property market pushing flat prices beyond their reach.

Several of them have voiced their grievances in letters to the media, and now netizens have started an online petition urging the Government to do something to curb the rises.

COV rises when buyers are willing to pay more than the market value of the resale flat, which is determined by professional valuers.

This issue was raised in Parliament yesterday when Dr Lim Wee Kiak, MP for Sembawang GRC, raised the question of whether COV was a significant barrier for those buying resale HDB flats.

He asked whether there should be an alternative.

‘Many people are CPF-rich but cash-poor when they want to buy a flat,’ he said. Continue reading