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What is the property worth at the moment? Will you add more than $25K, preferably $50K+ by renovating it? Is this your PPOR or an investment property? How is the house positioned on the block and what size is the land? What is the solar orientation? Asking these questions because you...

None near UWS Kingswood Brazen?

@pinkboy Thanks for your concern. The funds were required for expansion of a profitable business which has been operating for 40 years. I do fully understand my own liability and that of my husband. I probably didn't choose my words very wisely in answering Aaron's question. Probably a...

Thanks for your comments too, Rolf. I appreciate your input. Rachel

Ironically enough the business hasn't needed to draw down the loan yet, although they may do at any time. No, the remaining $900,000 wasn't used to purchase stock. There is probably security over the business land and buildings and possibly plant & equipment, but I don't have the details of...

Aaron, My inlaws also contributed their family home, value approx $650K. So the personal guarantee is greater than the security value by $900K. 25%, but each of us is liable for the full amount of $2 mil if the others don't or can't pay. So most likely $500K each, unless someone dies or...

Our family home is worth around $450,000. We have $20,000 cash and income of $105,000. Three dependent children. Other assets are really only shares in the business. I don't have a current estimate of their value but I imagine that if we were ever asked to honour the guarantee, it would only...

Hi everyone, this is my first post. Hope I don't sound as ignorant as I feel! We have guaranteed a loan for the family business. (Yes, I know this is not a good idea:eek:) My husband and I are each liable for $2million if we should ever be called upon. The bank holds the title to our...