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waylan
Apprentice
Joined: 11 Aug 2006
Posts: 3
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 Posted: 11/17/07 - 08:18 Post subject: |
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| For some time the family business is not doing that well. Therefore, I was loaning to compensate the loss by putting a mortgage on our family house. That way I will gain necessary finance to get out of the problems that I found my self in right now. Do you think this is a wise idea? Thank you all in advance. Sincerely, Michael. |
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sonny
Apprentice
Joined: 02 Jun 2007
Posts: 9
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| Posted: 12/02/07 - 23:28 Post subject: |
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| Well Michael, as far as I am concerned I think that your idea is not that good. Firstly, you do not own the house on which you are planning to put the mortgage on and secondly there are other ways to earn extra money in order to help your family business. After close inquiry you will find the way to certain finance. Look for some other estate that you have and do not use on which the mortgage can be put on. Also you can hire some mortgage brokers to help you plan your future investments as well as to help you choosing the right way. As you can see I am against all kind of mortgage because you will, at the end, find yourself in more debts that you have been before. Take care. |
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lilies34
Apprentice
Joined: 08 Jan 2008
Posts: 6
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| Posted: 01/08/08 - 07:11 Post subject: |
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| if you're not sure about taking out loans, why don't you learn more about them so that you'll make better decisions. check this site out: www.whataboutloans.com |
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