After The Obama Fever

Everyone's been talking about Obama right now. I'm quite surprised to see him winning the election because of his color, but I'm a bit skeptical on McCain winning because of the Bush Version 2.0 issue. I do know that Americans does not admire Bush style especially the ongoing war and the economic struggle inside USA, but I'm not gonna put all my hope to Obama because simply I just think he is just a slightly improve version of what's going on right now and the past few years. The problem for us Malaysians are most of us is being spoonfeed by CNN or BBC because we thought that their media is not biased. Try searching the net using the keyword Anti Obama, you'll find interesting information which is good to balance things. I bet he'll be using the war on terror justification to continue the war, especially after being briefed by the intelligence agency. On the other hand, I do hope that he will have a positive side on the economy.

I'm in the process of buying a small house, our lawyer had called me to sign the Sales and Purchase agreement. I need to fork out RM 11k for downpayment as this is a second hand house, so I'm in a tight budget right now. I've been doing some research on home loan and I think that the CIMB Islamic Variable Loan suits me although not 100% fine. (No home loan suits 100% the borrower).

I decided to opt for a Mortgage Life Insurance rather than MRTA. From what I've found thru a bit of research is buying MRTA is simple because it's just a one time pay off of something not more than RM3k (depends on the value of the house) but MRTA does have limitations on things they cover, and it will reduce its value of coverage. Mortgage Life Insurance in the other hand will require a monthly payment (again depends on the value of the house) say for example RM 150/- per month until the end of the home loan tenure, but the best thing is, I will get back all the money that I've paid at the end of the tenure (RM 150 x 12 months x 15 years of tenure) which will be RM 27,000 plus an additional dividen or which could be from RM 3k - RM 5k (depends on the rate). Full Stop.