Hi,
Married.
Residential Home worth 400K, mortgage 380,000, mortgage is 1500 pm %only.
Investment House worth 220K, mortgage of 220,500. House rented.mortgage is 962, rent covering this only just !
Have one acre site, which has planning app in at the moment.
We have 2 cars, my car loan is 17,000 or 90 per week/5 years
Husbands car loan is about 30,000. Visa C's are about 10,000.
Bills are about 80 per week all in.
Combined gross earnnings of circa 86,000 annual. Take home roughly 70,000.
There has to be a better way of making life easier...do we
invest in another house, sell my investment house, build on the site,
? I need inspiration !
First I would move to capital+interest your main residence as no capital appreciation is in sight.
DubGus said:
What terrible advice! People have an irrational fear of interest-only mortgages and 40 year mortgages which is the same thing.
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