Debt Consolidation For Malaysian (Part 2)

Now I shall try to explain how this works..

First and foremost, caveat emptor...

1st Criteria:
This is not meant for those of you who are in the following category:

1. Having FINANCIAL TROUBLE
2. Poor payment track record in your CCRIS
3. Declared Bankrupt
4. Need QUICK MONEY (like tomorrow!)
5. Poor CTOS record...like facing litigation, acting as guarantor for defaulted loans, etc
6. Excessive amount of credit card debt! example, total credit card debt more than 3 times your gross income (unless you can proof that you settle monthly outstanding in full every month consistently, then may be got chance)
7. You are RETIRED with no income
8. You are NOT A MALAYSIAN (Sorry, priority is to serve our fellow Malaysian first!)
9. High Debt Service Ratio (You can ask me to calculate for you if you are not sure though...)
10. You want the cheapest rates in town! (Sorry, i cannot offer you the lowest rates but i can assure you the rate is still fairly competitive at housing loan rates. That is a small price to pay for able to consolidate your debts and/or get the next property you desire)

If you are one of the above, you can stop reading now. 

2nd Criteria:

Among your properties, do you have at least one property whereby you can extract plenty of equity from it? I shall explain what this means..

eg., 

Assuming Outstanding loan amount = RM500k

Property Estimated Market Value is say RM1.5 million!

Net equity is therefore RM1million (1.5m minus 500k)

Apply 80% refinancing margin of financing (assuming you qualify) on the net equity RM1million = RM800k, and use that amount to settle your other debts such as other housing loan at the same time and other debts such as credit card.. 

Just to clarify, we shall settle the other housing loan directly for you. So even if you have more than 2 housing loan, NO ISSUE whatsoever! You can bypass the 70% LTV (Loan-to-Value) rule, for those who understands what i mean. This is provided the excess equity or refinancing cash-out portion is enough to settle these loan.  However, we cannot do the auto-settlement for credit card. You will need to do it yourself (DIY). 

3rd Criteria
The minimum refinancing loan amount must be RM500k and above.

Get the picture? This technique is what term as Debt Consolidation. 

What Benefits do you get?

• Much cleaner debt record post consolidation (like a cleaner Balance Sheet). The banks will now like you MORE as your CCRIS will now look like a beauty pageant!
• If you are left with only one housing loan (post consolidation), you can now purchase another residential property at 90% margin of financing!
• Reduce your interest costs significantly, especially if you have much credit card debt or personal loan, or old and small housing loan with unfavourable rates!
• ZERO Moving Cost! Yes, we are now having a Special Promotion limited time Offer. For a million dollar loan, this could save you easily RM20k!

To find out more, email me with your personal and debt profile at mortgagebroker.my@gmail.com. Remember, READ the 1st, 2nd & 3rd Criteria first to see if you qualify.

Cheers!