Posts Tagged ‘ mortgage ’

 Powered by Max Banner Ads 

I was recently married ( june) My husband and I are buying a condo. I have a line of credit loan with my business partner that is outstanding. It was for a franchise. We plan on paying the loan after a lawsuit we are involved in settles. The debt was acquired by me before my marriage. My husband is not involved in the loan. My question is that if I were to go on the mortgage along with my husband can the bank place a lien on the property even though it would affect him as well and he had nothing to do with the outstanding loan ? Should I stay off the mortgage and just leave it in his name ?

Ok firstly I would like to make this clear first up. I am mealy asking a question, and seeing which option would be a better start.

So I am a young person looking for the best outcome financially for my future. I have saved up enough money put a deposit on my first home, which i have planned to rent out the other three (3) bedrooms which would help me to pay off the mortgage. I was planning on waiting a few years to gain enough equity on the house to by a second home.

However I also want to eventually own a franchise (McDonald’s, or night owl, i haven’t decided yet. ).

Though Im having trouble deciding which to do first. If I buy a house I’ll have no deposit to buy a franchise and vice-versa.

So should I buy a house (which im planning to use as a investment), and wait a few years to gain equity on the house, then buy a franchise. Or, buy a franchise and then buy a house a few years down the track?