Everything is practically going up. I guess yesterday seems to be a history making event whereby the fuel price got jacked up from RM1.91 to RM2.70 per liter. Fuel going up, food also going up, not long electricity also going up. Everything is going up, is there anything going down? Well, the prices for my items here are going down, Kek Lapis (Layered Cake) going down whereby they used to sell about RM15-RM20 per loaf. Now it’s pretty much RM10 – RM15, and if you get 5 one time they can sell it to you at RM45. Apart from that, I’m not even sure what else is going down. Anyway, for the past 5 days I’ve been attending this Mortgage Reduction Camp which actually took 5 days to complete. So what in the world did I do there?
    Anyway, during the past 5 days I’ve practically learned a lot of things that the bank doesn’t really want you to know. And after doing the math, you could actually slash down your loan amount by 10%-90% of interest and repayment time. Please take note that using a normal calculator, you won’t be able to calculate the actual amount of interest that the bank charge you. And whenever you make extra payment each month for your loan, it basically won’t help you slash off your interests or help you settled your installments quicker. The extra amount of money would probably be placed in a suspense account where it would have no interest and basically it would be considered an advance payment.
    Anyway, hopefully with this new acquired skills I would be able to help out people who are currently still paying their house loan to shorten the time as well as save on interests. There are 6 methods that can be used to reduce one loan, but unfortunately the bank here only recognize 2 which pretty much sux. But it’s still better than nothing. I’m currently doing my brother loan, and from his calculation he could actually saved up to RM115k and shorten his loan period by 8 years. It’s all good :) So just need to prepare the final report and get it submitted.

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