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Is Taking a Mortgage the WORST Decision Ever??
Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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Jon Jones wrote:enyands wrote:muandiwambeu wrote:A loan is not a windfall gain.it most be paid with interest-and in kenya this not just pennies. You will have to pay until you legs thins out like those of a mosquito. With that loan the bank intends to hook u up with a lifesucking machine and u will be saluted as a fallen hero on ur fall. Paying a loan at interest rates higher than 10% is pure slaverly. So what do you do to survive beyond this scheme. Spread your loan for as long as possible to enjoy lowest possible installments. Then pay as much as you can. Never to pay beyond 6yrs.otherwise Wait for the auction and booked ur space at langata cementry or at the lonely columns. @muandiwambeu cant agree anymore. Let young people with a duty to feed their ego take these apartment houses. ATI service charge of 20k every month . Dangerous.mbaya sana kabisa Instant gratification. They want to convince anyone who cares that they are in the dough, with a furnished apartment. Needless to say, they realize their mistake once maturity sets in. Indeed, they pay millions to be tenants for the rest of their lives. They literally pay to be slaves of the developing company. The developing company retains the title deed and give them little pieces of paper signed by a gang of thieves called lawyers. Then the development company claims a "service charge" and other fees to manage the property. What is the point of having a house you cant call your own since you have no title deed, pay rent "service charge" which is almost the same amount that you use to pay rent in the same apartment. We can't all be the same, different people have different tastes and varying financial capacity If Obiero did it, Who Am I?
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Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831
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sitaki.kujulikana wrote:what happens when one fails to pay the service charge, I am sure the company can not auction your house or apartment for that. 1. Normally, they display your name in a big notice board at the main entrance as "LIST OF DEFAULTERS". 2. At Nyayo Embakasi, though the service charge is an acceptable 2,500/- p.m, they are known to PUT A HUGE PADLOCK and lock you out of your "own house". This happens if you default for a very long time (I.e. over 50,000/-). YES, they can auction your house. Its all in the fine prints. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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Swenani wrote:Jon Jones wrote:enyands wrote:muandiwambeu wrote:A loan is not a windfall gain.it most be paid with interest-and in kenya this not just pennies. You will have to pay until you legs thins out like those of a mosquito. With that loan the bank intends to hook u up with a lifesucking machine and u will be saluted as a fallen hero on ur fall. Paying a loan at interest rates higher than 10% is pure slaverly. So what do you do to survive beyond this scheme. Spread your loan for as long as possible to enjoy lowest possible installments. Then pay as much as you can. Never to pay beyond 6yrs.otherwise Wait for the auction and booked ur space at langata cementry or at the lonely columns. @muandiwambeu cant agree anymore. Let young people with a duty to feed their ego take these apartment houses. ATI service charge of 20k every month . Dangerous.mbaya sana kabisa Instant gratification. They want to convince anyone who cares that they are in the dough, with a furnished apartment. Needless to say, they realize their mistake once maturity sets in. Indeed, they pay millions to be tenants for the rest of their lives. They literally pay to be slaves of the developing company. The developing company retains the title deed and give them little pieces of paper signed by a gang of thieves called lawyers. Then the development company claims a "service charge" and other fees to manage the property. What is the point of having a house you cant call your own since you have no title deed, pay rent "service charge" which is almost the same amount that you use to pay rent in the same apartment. We can't all be the same, different people have different tastes and varying financial capacity Prudence and rationale. A mosquito bite is not a certainity to malaria but its worthwhile to note that, that bloodsucking insect is a killer malaria vector. ,Behold, a sower went forth to sow;....
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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muandiwambeu wrote:Swenani wrote:Jon Jones wrote:enyands wrote:muandiwambeu wrote:A loan is not a windfall gain.it most be paid with interest-and in kenya this not just pennies. You will have to pay until you legs thins out like those of a mosquito. With that loan the bank intends to hook u up with a lifesucking machine and u will be saluted as a fallen hero on ur fall. Paying a loan at interest rates higher than 10% is pure slaverly. So what do you do to survive beyond this scheme. Spread your loan for as long as possible to enjoy lowest possible installments. Then pay as much as you can. Never to pay beyond 6yrs.otherwise Wait for the auction and booked ur space at langata cementry or at the lonely columns. @muandiwambeu cant agree anymore. Let young people with a duty to feed their ego take these apartment houses. ATI service charge of 20k every month . Dangerous.mbaya sana kabisa Instant gratification. They want to convince anyone who cares that they are in the dough, with a furnished apartment. Needless to say, they realize their mistake once maturity sets in. Indeed, they pay millions to be tenants for the rest of their lives. They literally pay to be slaves of the developing company. The developing company retains the title deed and give them little pieces of paper signed by a gang of thieves called lawyers. Then the development company claims a "service charge" and other fees to manage the property. What is the point of having a house you cant call your own since you have no title deed, pay rent "service charge" which is almost the same amount that you use to pay rent in the same apartment. We can't all be the same, different people have different tastes and varying financial capacity Prudence and rationale. A mosquito bite is not a certainity to malaria but its worthwhile to note that, that bloodsucking insect is a killer malaria vector. Prudence and rationale is subjective. If Obiero did it, Who Am I?
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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dunkang wrote:sitaki.kujulikana wrote:what happens when one fails to pay the service charge, I am sure the company can not auction your house or apartment for that. 1. Normally, they display your name in a big notice board at the main entrance as "LIST OF DEFAULTERS". 2. At Nyayo Embakasi, though the service charge is an acceptable 2,500/- p.m, they are known to PUT A HUGE PADLOCK and lock you out of your "own house". This happens if you default for a very long time (I.e. over 50,000/-). YES, they can auction your house. Its all in the fine prints. Wololo, that is crossing the red line.
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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Choices have consequences so do not get astonished. Usichangae! ,Behold, a sower went forth to sow;....
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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Swenani wrote:muandiwambeu wrote:Swenani wrote:Jon Jones wrote:enyands wrote:muandiwambeu wrote:A loan is not a windfall gain.it most be paid with interest-and in kenya this not just pennies. You will have to pay until you legs thins out like those of a mosquito. With that loan the bank intends to hook u up with a lifesucking machine and u will be saluted as a fallen hero on ur fall. Paying a loan at interest rates higher than 10% is pure slaverly. So what do you do to survive beyond this scheme. Spread your loan for as long as possible to enjoy lowest possible installments. Then pay as much as you can. Never to pay beyond 6yrs.otherwise Wait for the auction and booked ur space at langata cementry or at the lonely columns. @muandiwambeu cant agree anymore. Let young people with a duty to feed their ego take these apartment houses. ATI service charge of 20k every month . Dangerous.mbaya sana kabisa Instant gratification. They want to convince anyone who cares that they are in the dough, with a furnished apartment. Needless to say, they realize their mistake once maturity sets in. Indeed, they pay millions to be tenants for the rest of their lives. They literally pay to be slaves of the developing company. The developing company retains the title deed and give them little pieces of paper signed by a gang of thieves called lawyers. Then the development company claims a "service charge" and other fees to manage the property. What is the point of having a house you cant call your own since you have no title deed, pay rent "service charge" which is almost the same amount that you use to pay rent in the same apartment. We can't all be the same, different people have different tastes and varying financial capacity Prudence and rationale. A mosquito bite is not a certainity to malaria but its worthwhile to note that, that bloodsucking insect is a killer malaria vector. Prudence and rationale is subjective. Sure. Wisdom is not cleverliness. Then, when subjectivity is irrationale the rationale is objectivity. Why subjectively get a ring from the sucker? ,Behold, a sower went forth to sow;....
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Rank: Veteran Joined: 8/25/2012 Posts: 1,826
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hardwood wrote:dunkang wrote:sitaki.kujulikana wrote:what happens when one fails to pay the service charge, I am sure the company can not auction your house or apartment for that. 1. Normally, they display your name in a big notice board at the main entrance as "LIST OF DEFAULTERS". 2. At Nyayo Embakasi, though the service charge is an acceptable 2,500/- p.m, they are known to PUT A HUGE PADLOCK and lock you out of your "own house". This happens if you default for a very long time (I.e. over 50,000/-). YES, they can auction your house. Its all in the fine prints. Wololo, that is crossing the red line. Interesting, but the padlock thing, do they forcibly evict whoever is in the house first before locking it, and on the auctioning part that would require one to have signed the house as collateral or something, otherwise I would assume a court case would be necessary to attach ones assets for a debt. Unless Kenyans attach a lot of ego to their places of residence, but judging by our corrupt ways, and just looking at our road driving culture, I would expect lots of defaulters on the service charge.
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Rank: Member Joined: 6/21/2010 Posts: 345 Location: easto
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Recently I moved to an employer whose mortgage rate is 3% p.a reducing balance. I cant wait to get confirmed and immediately take the maximum mortgage possible with my salary. The only concern is how I will fast track the payments. I see many pros with this interest rate. Any cons? "The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence." ― Charles Bukowski
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Rank: Elder Joined: 7/22/2009 Posts: 7,838
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hardwood wrote:dunkang wrote:sitaki.kujulikana wrote:what happens when one fails to pay the service charge, I am sure the company can not auction your house or apartment for that. 1. Normally, they display your name in a big notice board at the main entrance as "LIST OF DEFAULTERS". 2. At Nyayo Embakasi, though the service charge is an acceptable 2,500/- p.m, they are known to PUT A HUGE PADLOCK and lock you out of your "own house". This happens if you default for a very long time (I.e. over 50,000/-). YES, they can auction your house. Its all in the fine prints. Wololo, that is crossing the red line. Hapo ni kununua panga pap!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Is Taking a Mortgage the WORST Decision Ever??
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