I'm one of the over 30k with outstanding arrears of over 8 mths. Mid-aged PMET who is jobless. Guess I have to sell off my flat and migrate cos can't afford to even buy a 3rm flat. Definitely make my vote count in coming GE 2011/2012. Let's all unite and see how it goes.

Statistics on loan arrears may not show "the hardships of some owners maybe facing". Some of homeowners were forced to downgrade or sell their flats but not able to buy due to high COV.
Many people are affected by this downturn, some like PMET age-group may not able to get the same salary or same jobs or accept lower salary job etc.
I urge authorities to study the problem in-depth: - work out a solution like "HDB buy-back on the lease scheme" for lower income group & middle-age affected group. For example: Lease sell back to HDB, says, 10 years lease on condition that loan is under HDB subsidized loan (not bank loan b'cos more complicate to handle). HDB will then be able to reduce loan and re-work the monthly installment that is affordable for owner to service the loan. If owner sells his flat in future, seller will have to “pay-back” the difference in order to reinstate the 10 year lease to new buyer. Let's public discuss to see this method is viable...

However, Ngee Ann Polytechnic real estate lecturer Nicholas Mak said: "Arrears usually increase in a recession, but the HDB resale market was buoyant and these households could have benefited from this by selling their flat to pay off their debt and then moving in with relatives or to a smaller flat."

Does this mean that there are more homeless Singaporeans?