In 2007, I bought a property in Malaysia and should be completed in he year 2010 as per the Sales and Purchase Agreement below:
Unfortunately the project was stalled for no concrete reason in 2010 until now and found out that the Developer run away.
Checked with the authority and ministry and found out the Developer don't have any license and was waived by a corrupt politician.
Curiously when applying for the house mortgage from a big banking institution, the bank itself don't do due diligence to check if the developer has licensed issued by the authority. I am thinking that the house loan officer was selfish trying to achieve their Key Performance Target instead by providing as much loan to the home buyers.
If due diligence was done, the banking institution should not offered home loan or home mortgage to the house buyer like me in the first place if the developer does not have a license.
The authority and the ministry cannot issue project abandonment because the developer do not have the license, thus makes me suffered going up and down with bank to reschedule the house mortgage repayment.
Below are how the bank treated me in a non-compassionate manner by asking me more payments after trying to negotiate with the banks:
Below shows the condition within the apartment after 6 years the project was stalled.
Home is a basic necessity for everyone and I bought the apartment before economic recession in 2007.
After the economic recession in 2008, the place I was working closed down and finding a good job was tough.
Currently do not have fixed job to sustain and just doing small jobs like selling drinks but not enough to sustain to fulfill the high cost of living in Malaysia and suffered as a victim to the developer and this banking institution.
My savings are depleting to payoff the debts, otherwise I will be declared bankrupt to support my living.
Now I am trying to sell my other personal items to payoff the monthly debts.
After the white knights took over, I still need to pay a top-up fees for saving this apartment so that I can stay.
I am seeking compassion people out there for help just with a pledge of 1 dollar per person. No obligations if pledge more than 1 Dollar, if more may God bless that person with big heart compassion.
I would be grateful to the funders in saving my livings.
I am targeting contribution from the pledges by 18 April 2019 to payoff the debts, penalties and legal fees.
Target Ends: 18 April 2019
Debt =RM189,000 / USD42,000
Penalty Fault = RM11,000 / USD2,445
White Knight Fees = RM65,000 / USD14,445
Legal Fees = RM5000 / USD1,112
Platform Fees = RM32,400 / USD7,200
TOTAL NEEDED = RM302,400 / USD67,200
I hope someone out there can hear my cry for this Rally Saviour Program.