Forum Replies Created
Viewing 1 post (of 1 total)
In addition to the cashflow consequences that Mike has mentioned you might want to consider the liability affect of depositing all of the money into the mortgage.
As Steve and Dave discuss in their package it is important to structure your affairs so as to avoid the adverse consequences of being sued. If someone were to sue you and win forcing you/your entity into bankruptcy/liquidation then any equity in the property will be available to the bankruptcy trustee/liquidator. Therefore, whilst you had great intentions in paying off the debt early, it will all be lost.
Consequently you might want to consider drawing out the equity as you go along, so if the wrap all falls over, at least you have your spread somewhere else.
Viewing 1 post (of 1 total)