Was put off work for the past 8 months and waiting on a single payment in April to catchup ( just too late for my Bank to wait )
I have 2 options,
1) Sell the house and move on.
2) Look for someone to invest in return of a deed to Half the house.
any help or suggestions are greatly appreciated.
<moderator: edited>
Hi Ken,
Just a couple of questions:
1) Are you living in this property?
2) would you be able to get offload 100% share and then lease back on rent-to-own scheme for 2 years so that you can get your house back at an agreed price after 2 years?
Cheers
John
Hello John,
Yes I am living in the property. Can you explain more about the Rent to Own
thanks
Ken
Are you willing to go into a loan with someone you don't know? What if they stop paying the bank?
What if they were to die? Divorce? Bankrupt?
vice versa too.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I agree with Terry, Too many things that can go wrong. Can a family member bail you out for a couple months?
Thanks Terry and Joe,
Neither my Son or Daughter are in a financial position to help. I'm not needing any further Expences and am hoping to solve the problem by helping someone make a decent return from there investment.
Few questions…
What's the story with this payment that's coming in April? In other words, where is the payment coming from, what is it for, and how many dollars are arriving in the payment?
What are you doing for income (?Centrelink?) and assuming that the payment you are expecting in April helps you catch up, would your current income situation allow you to remain up-to-date with the payments?
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Can you rent some of the rooms out?
Can you downgrade to something very 'modest' or better yet move in with family and rent out the property?
Regards
Shahin
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
Also option 2 would be a definite no go for me as it carries massive risks.
Regards
Shahin
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
Hello JacM, thanks for your questions.
In April I am due in Court to give evidence and further proof about a bullying complaint I put a written complaint in April last year. The Manager and assistant manager ( I am 2IC and officially on unpaid leave ) There are 3 other employee'es that also suffered this bullying over the past 3 years and I have written statements now from 2 of them. April means I can prove what had happened and get WorkCover overturned then recovering almost a year of wages and over 200 hours annual leave I used.
I have survived on $160 per fortnight from Centrelink ( Sickness Benefit ) without being able to pay my Morgage, the bank gave me until December 2012 to catchup and honestly I thought everything would have happened a lot quicker. I intend returning but only after I sort the court results out. I am a strong person and have and continue to think positive.
if for any reason the court results are against me then I will go back to my position and will be able to continue my payments as I have done the past 8 years. I was hoping to explain all the above face to face as I didn't want to scare anyone away to early lol
OK. Perhaps it is an option to seek employment with a different employer? Not sure why you have to put your life on hold until this April court case and hope the outcome goes your way…
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
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