Thursday, June 2, 2016

Bad Idea Before Marriage

Question: I plan to marry in the near future; my husband-to-be had to buy out his wife's portion of the house in a hurry -- she has also ruined his credit. I have excellent credit and also a home to sell. I will make around $40,000 profit from my house.
Would we be better to use some of my profit to fix up his house and ready it to sell; or should he sell his house "as is" and get him out from under the large payments and interest rate. We plan to buy a home together in my name after we are married.

Answer: Imagine if you sell your home, provide the cash to fix up his property and then the wedding is called off. You would have no cash, no house and no hubby.

It may be best to do nothing until you're actually husband and wife.