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LookitsMarkA · 05-01-2014, 03:21 PM

A. if you are buying for the inlaws it might be better if they purchase it with your name and their names together

reason?
1. tax grants for seniors
2. in case a person who has interest in the property suffers an incident, the survivor always is the beneficiary unless otherwise stated - will save you $$ for the will and beneficiary system.

B. if that 40% wasnt used, you can still afford a 2nd mortgage as long as nothing has changed to decrease your income or credit. in some points you might be also able to refinance or take equity from your home to have a bigger amount of downpayment for the 2nd mortgage. ONLY, if the rates of the 1st mortgage is lower than the potential 2nd mortgage though, this will save you some interest and principal.

disclosure: while i have stated the (section B) fact to best of my knowledge, i dont guarantee it and you must talk to a mortgage broker or a financial analyst.
I will be happy to redirect you to one and assist you with tax grants of buying your other home.

05-01-2014, 03:21 PM	#4
LookitsMarkA Wunder? Wonder?? Wander??? Join Date: Sep 2012 Location: surrey Posts: 224 Thanked 453 Times in 73 Posts Failed 40 Times in 17 Posts	A. if you are buying for the inlaws it might be better if they purchase it with your name and their names together reason? 1. tax grants for seniors 2. in case a person who has interest in the property suffers an incident, the survivor always is the beneficiary unless otherwise stated - will save you $$ for the will and beneficiary system. B. if that 40% wasnt used, you can still afford a 2nd mortgage as long as nothing has changed to decrease your income or credit. in some points you might be also able to refinance or take equity from your home to have a bigger amount of downpayment for the 2nd mortgage. ONLY, if the rates of the 1st mortgage is lower than the potential 2nd mortgage though, this will save you some interest and principal. disclosure: while i have stated the (section B) fact to best of my knowledge, i dont guarantee it and you must talk to a mortgage broker or a financial analyst. I will be happy to redirect you to one and assist you with tax grants of buying your other home.