Attention:
Malaysia, Singapore and
Hong Kong Property Owners and Loan Borrowers!!!
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| |
The
TRUTH of FLEXI Loan
Package
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| |
Do
you know UNKNOWINGLY
TheTRUTH of FLEXI Loan
Package Could End Up PAYING
EXCESS Dollars in Interests to Your Mortgage
Lender?
|
| |
Date:
From: David Wong
Dear
Malaysia, Singapore and
Hong Kong Property Owner
and Loan Borrower,
If
you said ※YES§ to any one of these questions, please read
on because you will be or might have been "MISLED"
by the lenders＊ Advertisements and Loan Quotations and
sign an "OVERSELL"
FLEXI Loan Package
that will cause you PAYING
EXCESS Dollars in Interests to your Mortgage
Lender.
What
does this mean? Let me use a real case to expose some
facts your lender does not want you to know...
According
to a Letter of Offer dated 12th May 2005 provided by the
borrower, Table 1 shows that a lender has approved a $208,000
Loan Principal, Mortgage Reducing Term Assurance $1,233.44,
amortized for 15 Years with the 1st Year Interest Rate
3.50%, 2nd Year Interest Rate 6.00%, thereafter Interest
Rate 6.50%, Monthly Compounding and the Monthly Payments
for the 1st Year is $1,495.77, 2nd Year is $1,748.68,
and thereafter is $1,798.73.
|
No
|
Particulars
|
Data
|
| 1 |
Loan
Amount |
$208,000.00 |
| 2 |
Mortgage
Reducing Term Assurance |
$1,233.44 |
| 3 |
Period |
180
Months |
| 4 |
Interest
Rate |
3.50%,
6.00%, 6.50% |
| 5 |
Monthly
Repayment |
$1,495.77,
$1,748.68, $1,798.73 |
However,
do you know according to an analysis of 13 Consolidated
Statements provided by the borrower, Table 2 shows that
the Mortgage Interest Excess Paid by borrower is $2,861.12?
| No |
Particulars |
Data |
| 1 |
Consolidated
Statements |
From |
19/10/2004 |
| To |
19/6/2005 |
| 2 |
Interest
Debited |
$741.52 |
| 3 |
Interest
Actual Paid |
$3,602.64 |
Interest
Excess Paid |
$2,861.12 |
WHY
is it so? To understand the truth, you must conduct an
Interest Debited and Interest Actual Paid Analysis for
your FLEXI Loan
Package.
I: INTEREST DEBITED
ANALYSIS
Firstly,
you must gather all your Monthly Consolidated Statements,
then analyze and develop the Summary of Monthly Consolidated
Statements as shown in Table 3 for the purpose of identifying
the Monthly Closing Balance.
According
to the Lender's FLEXI Loan
Package Guide, this is your net loan outstanding.
Interest is calculated on the net outstanding loan daily.
A negative balance means you still owe the Bank and interest
is calculated on this outstanding balance. If the balance
in your FLEXI Loan
Package account is more than the loan limit of
each and every day in a month, you will not charged any
interest.
In
other words, the Summary of Monthly Consolidated Statements
as shown in Table 3 indicates that interest are calculated
for the 5th, 8th, 9th, 11th, 12th, and 13th months, but
no interest have been charged for the rest of the months.
Table
3: Summary of Monthly Consolidated Statements
|
Month
|
Statement
Date
|
Deposit
|
Withdraw
|
Closing
Balance
|
| 1 |
19-Jun-2004 |
$500.00 |
$212.50 |
$287.50 |
| 2 |
19-Jul-2004 |
- |
- |
$287.50 |
| 3 |
19-Aug-2004 |
- |
- |
$287.50 |
| 4 |
19-Sep-2004 |
- |
- |
$287.50 |
| 5 |
19-Oct-2004 |
- |
$1,233.44 |
$(945.94) |
| 6 |
19-Nov-2004 |
$1,000.00 |
$12.26 |
$41.80 |
| 7 |
19-Dec-2004 |
- |
$10.00 |
$31.80 |
| 8 |
19-Jan-2005 |
$208,000.00
|
$208,217.68 |
$(185.88) |
| 9 |
19-Feb-2005 |
- |
$10.55 |
$(196.43) |
| 10 |
19-Mar-2005 |
$90,000.00 |
$89,041.18 |
$762.39 |
| 11 |
19-Apr-2005 |
$49,000.00
|
$111,761.09 |
$(61,998.70) |
| 12 |
19-May-2005 |
$62,000.00 |
$58,390.37 |
$(58,389.07) |
| 13 |
19-Jun-2005 |
$49,000.00 |
$69,598.18 |
$(78,987.25) |
| Total: |
$459,500.00
|
$538,487.25 |
$(78,987.25) |
Secondly,
you must classify the activities from all your Monthly
Consolidated Statements, and then develop the Classification
of Monthly Consolidated Statements as shown in Table 4
for the purpose of identifying the amount of each activity.
Table
4: Classification of Consolidated Statements
| No |
Descriptions |
Loan
Increment |
Deposit |
Withdrawal |
Balance |
| 1 |
Open
Current Account |
-
|
$500.00 |
- |
$500.00
|
| 2 |
One
Time Set-Up Fee |
- |
- |
$200.00 |
$300.00 |
| 3 |
Cheque
book Issuance Charges |
- |
- |
$5.00 |
$295.00 |
| 4 |
Check
Book Stamp Duty |
- |
- |
$7.50 |
$287.50 |
| 5 |
Loan
Increment |
$209,233.44 |
- |
- |
$(208,945.94) |
| 6 |
Cheque
Deposit |
- |
$459,000.00 |
- |
$250,054.06 |
| 7 |
ATM
Cash Withdrawal |
- |
- |
$200.00 |
$249,854.06 |
| 8 |
Chip
Card Fee |
- |
- |
$8.00 |
$249,846.06 |
| 9 |
Clearing
Cheque |
- |
- |
$328,011.79 |
$(78,165.73) |
| 10 |
Monthly
Maintenance Fee |
- |
- |
$80.00 |
$(78,245.73) |
| 11 |
Interest
Debit |
- |
- |
$741.52 |
$(78,987.25) |
| Total: |
$209,233.44 |
$459,500.00 |
$329,253.81 |
$130,246.19 |
To
summarize Table 3 and Table 4, here are some surface discoveries
of the borrower's Monthly Consolidated Statements analysis:
-
Cheque
account 每 the borrower has opened a cheque account
and he is having a cheque account book and an ATM card.
-
Loan
increment 每 the borrower＊s $209,233.44 loan increment
is allocated at the withdrawal column.
-
Deposit
每 the borrower has deposited $459,500.00.
-
Withdrawal
每 the borrower has withdrawn $329,253.81.
-
Interest
debited 每 the borrower has been debited $741.52 interest.
-
Closing
balance 每 the borrower is currently owing the lender
$78,987.25.
-
The
borrower's Interest Actual Paid is not $741.52?
-
The
borrower's Net Loan Outstanding owe to the lender is
not $78,987.25?
Do
not believe? Let us now carry out an Interest Actual Paid
Analysis.
II.
INTEREST ACTUAL PAID ANALYSIS
Do
you know Table 4 shows that when your FLEXI
Loan Package is approved,
you must pay a One Time Set-Up Fee to the lender to open
a Loan Account for you?
In
other word, you are not only having a Cheque Account,
you are having an additional Loan Account for your FLEXI
Loan Package. Therefore,
you must analyze all your Monthly Consolidated Statements
again, and then develop the Summary of Loan Account as
shown in Table 5 for the purpose of identifying the Lender
＆s Amortization Schedule.
Table
5: Summary of Loan Account
|
No
|
Date
|
Interest
Rate
|
Payment
|
Principal |
Interest |
Balance |
| - |
15-Nov-2004 |
3.50%
|
$3.67 |
- |
$3.67 |
$1,233.44 |
| - |
15-Dec-2004 |
3.50% |
$3.67 |
- |
$3.67 |
$1,233.44 |
| - |
15-Jan-2005 |
3.50% |
$3.67 |
- |
$3.67 |
$1,233.44 |
| 1 |
15-Feb-2005 |
3.50% |
$1,515.07 |
$893.10 |
$621.97 |
$208,340.34 |
| 2 |
15-Mar-2005 |
3.50% |
$1,515.07 |
$955.69 |
$559.38 |
$207,384.65 |
| 3 |
15-Apr-2005 |
3.50% |
$1,515.07 |
$898.60 |
$616.47 |
$206,486.05 |
| 4 |
15-May-2005 |
3.50% |
$1,515.07 |
$921.07 |
$594.00 |
$205,564.98 |
| 5 |
15-Jun-2005 |
3.50% |
$1,515.07 |
$904.01 |
$611.06 |
$204,660.97 |
| 6 |
15-Jul-2005 |
3.50% |
$1,515.07 |
$926.32 |
$588.75 |
$203,734.65 |
| Total: |
- |
$9,101.43 |
$5,498.79 |
$3,602.64 |
- |
Here are some surface discoveries from
Table 5 Summary of Loan Account:
-
Payment 每 the borrower
has repay $9,101.43 of which $5,498.79 is to pay the
Principal and $3,602.64 is to pay the Interest.
-
Balance
每 the borrower's current outstanding balance is $203,734.65.
However,
if you compare the Interest Debited and Interest Actual
Paid Analysis we have discussed above, do you know...
-
The borrower's Interest Actual Paid is not $741.52,
but $3,602.64ˋ
-
The
borrower's Net Loan Outstanding owe to the lender is
not $78,987.25, but $204,660.97?
Still
do not believe?
III.
THE TRUTH OF FLEXI
LOAN PACKAGE
In
order to assist you to understand The Truth Of FLEXI
Loan Package, I am going
expose two important facts your lender does not want you
to know...
Table
6: The Truth Of FLEXI Loan
Package
|
FLEXI
LOAN PACKAGE |
TRUTH |
1 |
According
to the Lender's FLEXI
Loan Package Guide,
you can save thousands of interest payments because
FLEXI Loan
Package calculates interest daily and only
on your net balance i.e. outstanding balance in
FLEXI Loan
Package that day.
Any
additional money you deposit into the account e.g.
salary, or any spare cash, goes directly into reducing
your loan principal. When your loan principal decrease,
the amount of interest you pay is also reduced.
Therefore, every dollar you deposit into your FLEXI
Loan Package account
works to save you interest payments. |
1 |
Table 4 indicates that the borrower has been debited
$741.52 interest. However, Table 5 indicates that
the borrower has actual paid $3,602.64 interest.
Hence,
Table 2 shows that the borrower has paid excess
$2,861.12 interest.
The
TRUTH is the calculation of Monthly Interest is
not based on the Closing Balance as shown in Table
3, it is based on the outstanding balance as shown
in Table 5. |
2 |
According
to the Lender's Guide, while FLEXI
Loan Package makes
your money work harder and saves you interest, you
can also maintain full and complete flexibility
to repay and redraw at any time without any restrictions
or penalties. You can redraw extra deposit for daily
expenses, investment opportunities and/or in an
emergency.
Need
quick access to your money? Or need simple ways
to make repayments? Whether you are accessing the
extra money that you have deposited, transferring
funds or making repayments, you can do so anytime
through the following channels: ATM, phone banking,
standing instruction, cheque book, cash deposit
machine, cheque deposit machine. |
2 |
Table 4 indicates that the borrower has withdrawn
$329,253.8 and the borrower is currently owing the
lender $78,987.25. In fact, the borrower has deposited
$130,246.19 extra money.
According
to the Lender's Guide, if you use the outstanding
balance of $204,660.97 as shown in Table 5 minus
the closing balance of $78,987.25 as shown in Table
3, the borrower can withdraw $125,673.72 excess
money he has deposited.
The
TRUTH is since all your excess money he has deposited
cannot help you to save a single cent of interest...
- Why
should you deposit your salary and any spare cash
into your FLEXI Loan
Package account?
-
Why should you ※LEND§ your money to your lender
to invest for "0% INTEREST FREE"?
|
Again,
still do not believe?
IV:
CONCLUSION
The
FLEXI Loan
Package real
case as mentioned above is from one of the financial
institutions in Malaysia. When the financial institution
launched this FLEXI Loan
Package, not only that they have successfully
convinced their existing borrowers RESTRUCTURE
their loans from Conventional Loan Package to FLEXI
Loan Package, they have
even attracted many other Property Owners and Loan Borrowers
APPLY and REFINANCE
this FLEXI Loan
Package.
According
to the lender's Advertisements and Loan Quotations,
this FLEXI Loan
Package can help borrowers to "Own your
home in 1/2 the time, at 1/2 the cost".
In
addition, this financial institution is launching FLEXI
Loan Package in Hong
Kong and Singapore
also.
Recently,
many other financial institutions in Malaysia are launching
different "Name", "Advertisment Messege"
and "Loan Quotation" FLEXI
Loan Packages.
I
believe that you have understood if you UNKNOWINGLY
The TRUTH of FLEXI Loan
Package Could End Up "MISLED"
by the lenders' Advertisements and Loan Quotations and
sign an "OVERSELL"
FLEXI
Loan Package that will
cause you PAYING
EXCESS Dollars in Interests to your
Mortgage Lender.
Hence,
dear Malaysia, Singapore
and Hong Kong Property
Owners and Loan Borrowers, the question now is...
If
you have SIGNED a FLEXI
Loan Package,
do you know HOW MUCH EXCESS
INTEREST have you paid to your
Mortgage Lender?
As
I have mentioned above, in order to understand the truth,
you must conduct an Interest Debited and Interest Actual
Paid Analysis for your FLEXI
Loan Package.
Firstly, you must gather
the following information:
-
Letter of Offer
- Document with Date of First Payment
- Monthly Consolidated Statements
- Inquiry For Current Mortgage Information
Secondly, you must analyze
the following information:
-
Cheque Account
- Loan Account
You are not a Mortgage
Reduction Specialist, how can you analyze
the above information?
Good
News! In order to assist you to carry out an Interest
Debited and Interest Actual Paid Analysis for your FLEXI
Loan Package, I have developed
a FLEXI Loan
Analysis
Report service
for you.
Do
not matter you are a Malaysia,
Singapore or Hong
Kong Property Owner and Loan Borrower, and the
Amount of your Loan Principal, with just only a small
investment of USD200,
you will be able to know HOW MUCH
EXCESS INTEREST you have paid to your Mortgage
Lender.
Special
Offer:
Order
by
MIDNIGHT TODAY and and you are
entitled to 50%
Discount, get your FLEXI
Loan Analysis
Report
for only USD100
and you will be able to know HOW MUCH EXCESS INTEREST
you have paid to your Mortgage Lender.
Order
NOW and Do not Miss Out On This Incredible Offer!
Order
With Credit Card Over our Secure Order Form
(For
Malaysia, Singapore and Hong Kong)
| 1. |
Click
the "Online Application For FLEXI
Loan
Analysis
Report"
below to fill in Customer Billing information,
and Please Select "Credit Card"
or "PayPal", then click "Continue>>". |
| 2. |
Once
your Credit Card is approved, you will be
able to instantly download a ZIP file which
consists of:
-
Instruction - Online Application For FLEXI
Loan
Analysis
Report
(TEXT File)
-
Online - Application for FLEXI
Loan
Analysis
Report
(PDF File)
-
Inquiry for Current Mortgage Information
(PDF File)
-
Inquiry For Current Mortgage Information.
(EXE File)
-
Inquiry for Current Mortgage Information
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