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mr funny
25-02-10, 22:27
http://www.straitstimes.com/PrimeNews/Story/STIStory_494651.html

Feb 25, 2010

Mortgage debt may force Chans out of Everitt Road

By K. C. Vijayan, Law Correspondent

http://www.straitstimes.com/STI/STIMEDIA/image/20100225/a6-1.jpg
The Chans allegedly missed several of their monthly payments on a loan from DBS bank, which is seeking a High Court order to possess the property. One option is for the Chans to sell the house on their own and settle their debt. -- ST PHOTO: CAROLINE CHIA

A FAMILY whose long-running spat with their Everitt Road neighbours led to several widely publicised stand-offs in court is now facing a suit of a different kind.

A bank wants to turn them out of their home for allegedly missing payments on a loan and is seeking a High Court order to possess the property.

The family, who has lived there for more than 15 years, is made up of retiree Chan Cheng Khoon, 74, his wife Chua Gek Eng, 71, and their daughter, Dr Chan Soo Yin, 47.

A younger married daughter lives elsewhere.

The debt arose out of a loan facility granted by DBS Bank in December 2002. As of May last year, they still owed the bank more than $200,000. It was secured by a mortgage on the house, according to court documents filed. The Chans allegedly missed several of their monthly payments, amounting to almost $29,000, last year.

The family attained media notoriety over their long-running conflict with seven families in the neighbourhood.

The dispute began over a parking space but soon escalated into a tit-for-tat turf war involving chains, video cameras and allegations of abuse on both sides. Three of the families have since moved out.

Dr Chan, an educator, filed 25 magistrate's complaints against her neighbours between 2005 and 2006.

Only one was successful, which saw a former neighbour fined $500 for hurling vulgarities at her but this was set aside last August by the High Court on condition that the woman keeps a clean record. The rest were resolved or mediated.

Dr Chan and her father were also hauled to court a number of times between 2004 and 2006 for insulting and harassing their neighbours. Mr Chan was fined three times and Dr Chan once, racking up total fines of $10,000.

The original mortgage of $376,000 on the three-storey terrace house was granted in December 1994 by CreditPOSB, which later became part of DBS Bank.

The bank is seeking through lawyer Alfonso Ang to foreclose the 2002 loan because of the payment arrears.

One option is for the Chans to sell the house on their own and settle their debt, instead of the bank doing it.

It is believed that the property, in a middle-class area of Joo Chiat with several conveniences such as shops, markets and schools nearby, could fetch at least $1.5 million.

A closed-door High Court hearing before an assistant registrar yesterday was adjourned to a fortnight's time.

Asked yesterday about the bank's move, Dr Chan declined comment.


Years of feuding

# 1993: The Everitt Road dispute reportedly started over parking space, and escalated into a tit-for-tat war involving chains, video cameras and allegations of abuse on both sides.

# 2002: The quarrel drew media notice when seven families sought help from MP Chan Soo Sen.

Mediation efforts failed to resolve the conflict. The escalating quarrels drew wide interest, with the street attracting curious observers from outside the neighbourhood.

A slew of police reports and court complaints followed.

# 2004: In July, Mr Chan Cheng Khoon was fined $4,000 for insulting Madam Teo Suan Moy and another neighbour, Ms Bency Chua.

# 2005: In November, Mr Chan was again fined for insulting another neighbour.

# 2006: In February, Mr Chan was fined the maximum $2,000 for harassing Mr Loh Beng Lee, who lived diagonally across from his house.

His daughter, Dr Chan Soo Yin, 47, was fined $2,000 in January for insulting a neighbour.

# 2009: Dr Chan said she filed 25 magistrates' complaints against various neighbours between 2005 and 2006 - one leading to a $500 fine being imposed on Madam Tan Bee Hua, which was set aside in August.

She added the others were either resolved, settled or dismissed.

xebay11
26-02-10, 07:01
"As of May last year, they still owed the bank more than $200,000."

If they sold at $1.5m they would be $1.2+m positive.

proud owner
26-02-10, 07:04
"As of May last year, they still owed the bank more than $200,000."

If they sold at $1.5m they would be $1.2+m positive.

1.5 m they can get a 2 bedroom at one amber and still have small balance for renovation ...

xebay11
26-02-10, 07:51
Fire sale....cheong ah!!!

KarenK
26-02-10, 08:04
Fire sale....cheong ah!!!

I pity their new neighbours if they move to new place......it'll be Everitt - The Saga Continues.... :scared-4:

Geylang OKT
26-02-10, 08:27
Cannot understand why they cannot live in peace with their neighbours. Love your neighbours. :D

Localite
26-02-10, 08:41
Some people are born to quarrel, trying to seek a win-lose scenario. Then how will the quarrels ever end.

I know some people who draw lines between neighbours and say your roof and tree branch have come into my air space.

Some people thick skin. They don't care if people hate them for what they do.

I cannot imagine living amidst enemies. Scary thought.

bargain hunter
26-02-10, 13:34
that means they can fetch a good price if they sell their everitt house, since the source of the saga is gone. :D


I pity their new neighbours if they move to new place......it'll be Everitt - The Saga Continues.... :scared-4:

bargain hunter
26-02-10, 13:36
no fire sale, think if they want to sell, can fetch an ok price since they are well in equity and owe the bank comparatively little.





Fire sale....cheong ah!!!

Regulators
26-02-10, 13:50
this kind of cursed house u also want to buy. anyone who buys it will be cursed with CB mouth like the Chans....:scared-4:


Fire sale....cheong ah!!!

bargain hunter
26-02-10, 13:52
won't lah, they leave already value of house/area restored to normal. :p


this kind of cursed house u also want to buy. anyone who buys it will be cursed with CB mouth like the Chans....:scared-4:

xebay11
26-02-10, 17:34
this kind of cursed house u also want to buy. anyone who buys it will be cursed with CB mouth like the Chans....:scared-4:

Buy and flip lah :D

zimmer
27-02-10, 21:26
Buy and flip lah :D

Eh, but now flip got property gains tax?

xebay11
01-03-10, 06:52
Eh, but now flip got property gains tax?

Tax if flipped within one year. Rent out for that time. :)

mr funny
16-03-10, 02:06
http://www.straitstimes.com/Singapore/Story/STIStory_500548.html

Mar 11, 2010

Chans to keep Everitt house

Bank withdraws suit after payment plan is agreed

By K.C. Vijayan, Law Correspondent


A FAMILY being sued by their bank for defaulting on their mortgage will get to keep their home in Everitt Road.

Yesterday, DBS Bank withdrew its suit after the Chan family - who gained media notoriety for their longstanding feuds with neighbours - agreed to make regular payments for the outstanding amount.

The bank's lawyer Alfonso Ang said the bank's intention 'had always been to work out an amicable solution with their customers'. DBS had sought to turn the Chans out of their home for allegedly missing payments on a loan, applying for a High Court order to possess the property.

Retiree Chan Cheng Khoon, 74, has lived in the Joo Chiat home for more than 15 years with his wife and one of their daughters.

The debt was owed on a loan from DBS Bank in December 2002 and secured by a mortgage on the house. As of May last year, the family owed the bank more than $200,000.

The Chans made headlines after some widely publicised conflicts with seven families in the neighbourhood from 2004 to 2006. The dispute began over a parking space, but soon escalated into a tit-for-tat turf war involving chains, video cameras and allegations of abuse on both sides.

Three of the families have since moved out.

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