financial advice ?
i have somebody owe me money 250, but now he broke & the only left is his house which is now under the pawn since he owe to the bank 150. his house will be sale by auction within next month since he cant pay the debt. if he sell his house then he’ll have nothing left to pay me my money. i have this speculation: i have cash 50, i can sell my car too cost 50, i can get a loan from bank 50. they all total 150. with those money i can take over his debt, i’ll get the paper house and the house belong to me. i know this will make me have to pay my debt to the bank monthly (hope i can pay this by my paycheck, max. i can pay 2,5/ month). OR, maybe i can get a loan from relatives to pay my 50 debt to the bank,then i can have my house paper free. NEXT: i’ll take loan from bank with the house as guarantee,cos i need money for my side business- i cant rely on my life by my paycheck only. PLEASE SMBODY GIVE ME FINANCIAL ADVICE since im too scare to make a move & hate to loose money. thank u guys