by Alfred Chia (guest contributor)

Alfred Chia, CEO of SingCapital, has just published a new book on using mortgages wisely. In this article he shares with us what the book is about and his reasons for writing it.

Most of us have been brought up to believe that borrowing is a bad thing.

To many people, the prospect of having to pay interest on the loans they take, and the need to service their loans through constant repayments towards the principal sum, are huge turn-offs that will deter even the most daring of men.

Yet, taking on a loan can lead one to financial freedom, and mortgage is one such example.

Commonly known as housing loans in Singapore, mortgages are what you take to finance your property purchases. These loans typically come with a tenure that can stretch until you are 75 years old. Thus, it is quite likely that for the next 35 years – assuming that you are purchasing your property at 40 – you may be forking out a few thousand dollars on a monthly basis to service your loan.

Thus, how you manage your mortgage can determine whether your life turns out to be one of financial independence, or whether it becomes one of continual and endless financial burden. This is especially true in Singapore, where most of our assets are tied up in real estate.

Mortgage Planning The Holistic Way

If getting a mortgage is simply a case of walking into the bank, talking to the banker and signing on the dotted line, there would be really nothing much to write about. Yet, as we have seen earlier, a mortgage loan is a long-term liability that must be planned for and managed properly. It is the proverbial double-edged sword that cuts both ways, and as an individual who wants financial independence, you want to cut it in the way that favours you, not hurt you.

‘Mortgage And Grow Rich’ – The Book

It is clear that mortgage and financial planning takes much thought and knowledge. Yet, information that is suitable and palatable for the Singapore context is severely lacking and absent.

As a financial adviser with 18 years of experience behind me, I strive to do my part in sharing the knowledge of mortgage and financial planning with the general public through as many conduits as possible. Other than being the sole Creator and Chief Trainer for the popular program, ‘Singapore Accredited Mortgage Planner’, for real estate professionals and financial planners. I am also  a regular radio show consultant to the FM 100.3 program “星期二理财节目”.

Writing ‘Mortgage And Grow Rich’ is another conduit I am using to reach out to the masses. Written with the layman and laywoman in mind, ‘Mortgage And Grow Rich’ is the guide towards managing and growing your finances.

This book will:

• Outline methods of making money work for you and not being a slave to it.

• Define mortgage and its role in helping you finance your dream property purchase.

• Unveil the secrets to the dynamic 4A Method (TM) and its ability to put you on the path to financial freedom.

• Evaluate the finances you would need for the purchase.

• Reveal the financing strategies available for different types of purchases e.g. Raising Funds from your property without selling

• Provide precise, executable steps for you to save on your loan.

• Illustrate how you can adequately protect yourself and your loved ones from the contingencies of life. v

Packed with realistic examples and humorous illustrations, this informative book will be the most important resource you will need to be your ultimate mortgage and money manager.

Mortgage and Grow Rich is available at all major bookstores at a price of $29.96 (including GST). To find out more, please visit www.alfredchia.com for a free preview of the book.