topup housing loan?

[bc5]

I heard from a friend that in the 1997-98 crisis, sg banks asked homeowners to top up their home loans since prices had crashed, and obviously since many people had lost jobs and income, they couldnt and were kicked out of their homes. Do any of you'll know more about this? any articles / stats of how many were affected, or the scenario at the time?.............which also brings me to a 2nd question.

If I have fixed deposits in sg banks, since only sgd20k is guaranteed, what if sg banks face bankcruptcies? do you think the govt would step in to pay people back?

[bc5]

did he topup issues happen only in private property or hdb also?

[Hi]

Is 80% of mkt value a good gauge on the amt to top up?

[Not local banks.]

Local banks are not going to do this as it will only make the situation much worst. They will more or less cooperate with the govt to avoid  this.
Local banks will leave you alone as long as you can may the monthly installments.

The same may not apply to the foreign banks here.

[Top up]

We have 3 flats in the UK all bought with a loan in Singapore Dollars we have had to top up one loan already as the LTV was greater then 80% with the drop in the GBP. They have just requested another top up for another flat however we are getting this flat valued as we have had it 3 years and even with the declining market the value should have increased enough we are not too concerned at the moment and hope we can ride out the storm until the market sorts itself out.