More than 200 flats seized by HDB in last three years Flats are compulsorily acquired from lessees who have committed major lease infringements such as the unauthorised subletting of flats, says Minister of State for National Development Desmond Lee. Source: Channel News Asia / Singapore SINGAPORE: A total of 202 flats were seized by the Housing and Development Board (HDB) between January 2012 and December 2014, Minister of State for National Development Desmond Lee said on Tuesday (Jan 20). Flats are compulsorily acquired from lessees who have committed major lease infringements such as the unauthorised subletting of flats, Mr Lee said, in response to a Parliamentary question by MP Zainal Sapari. “The action is also taken, as a last resort, against mortgagors who persistently refuse to resolve their arrears, or work towards a sustainable solution, despite the assistance given,” he added. HDB will assist such households to find alternative accommodation, Mr Lee said. “For those who can afford smaller flats, HDB will help them buy one and may offer them another loan for the purchase, if necessary. Those who are unable to afford another flat, and have no family support or other housing option, are allocated rental flats.” Mr Lee added there are many measures - both short- and long-term - that can be taken to help HDB homeowners resolve their arrears issues. These include helping the home owner reschedule a mortgage loan up to the maximum repayment period, or allowing owners to pay lower monthly instalments under the reduced repayment scheme. Mr Lee said HDB has assisted 9,752 families with one or more of these measures, from January 2012 to December 2014. It is not in the interest of lessees to accumulate mortgage arrears. Its not just a heavy financial burden on them, but also a tremendous emotional strain. HDB therefore intervenes early, proactively and sympathetically, to help flat owners resolve their arrears issues, he said. For instance, loan instalments are usually paid on the first of each month. But HDB gives lessees up to the end of the month if they face temporary cash flow difficulties for instance. But if they still face problems doing so, HDB will make a call, arrange a meet up or even do a home visit, to better understand the situation and better offer help, Mr Lee added. - CNA/cy/dl channelnewsasia/news/singapore/more-than-200-flats/1602306.html Read More at: https://sites.google/a/dwg.sg/research/home/2015/january-2015/21st-january-2015
Posted on: Thu, 22 Jan 2015 02:44:31 +0000
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