No Loans for Old Men

No Country for Old Men

When you are old, even the banks look at you with disdain.

Don't talk about insurance companies. All policies will be expensive.

Assuming that a person gets a loan to buy a property, he will get the shortest payback period and will have to pay more than a bundle! This is like burning candles from both end.

Equivalent to getting the short end of the stick.

Sorry, no loan-lah!

So, if you want to buy a property, buy it early while you are still working and there are years ahead to pay the installments in a less costly amount.

When you are old, they do not even stipulate that you buy a MRTA-a mortgage reducing term assurance policy.

Even a standby mortgage is useless if you cannot afford to pay back the installments.

If you should 'knock' off, they will just get your next of kin to pay the balance owing or put it on the block to get their money back!

Really, its no country for old men!