she put in 145,000 out of her marital home, and we have mortgage fo 50k, do i come under common law husband after two years of living with her and paying half the bill, if so what would that mean to ...
No it would take longer than your lifetime to pay back depending on the interest rate
davidmi711
$50 per month would not even cover the interest of a 50,000 loan, so any loan structured like that would be a rip off.
mt_ski
that would only take 1,000 months to pay off WITH 0% interest. Thats would be like almost 81 years!!!
If there was a minimal amount of interest you would NEVER be able to pay it off by paying 50/month.
This is IMPOSSIBLE as the people who are giving you the money would not make any money on it. And that it the WHOLE reason people loan money, to MAKE money from you.
The Foosaaaah
Ha. Funny question.
auntb93again
I think you are a little confused here. If you loan money, they pay you so much a month. If you are paying so much a month, then you must have borrowed money, not loaned it.
Having straightened that out, do some calculations here. If you were paying $50 a month on a $50,000 debt, it would take 1,000 months (83 1/3 years!) just to pay off the principal. In that time, there would be tremendous interest. So no, you can't get those kind of terms for a loan.
Alpha to a golden
no, I would say if it was 50,000 then you may be paying as high as 900.00 amonth also dont forget intersts
KathyB
no
morrison999
The interest at 5% per year on $50,000 is $208+ per month. At $50 per month you would never pay off the loan.
Your question is not very clear. I hope I answered it.
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