Hypothetical Financial Question

[Trillian]

Well I wouldn't just blow the lot if I had to give it back LOL. Hmmm, probably invest it in a property, do it up and then hopefully sell for profit.

[ss_storm]

If I had to give it back I would probably just invest it in something 'safe' like a bank account or term deposit or something, then once the money was given back I'd have the interest that was earned to spend, without having to 'find' the money to give back.

[Olive]

mmmmm 2 years isnt very long inwhich to invest and see much of a return, you need 7-10 years for that. sooooooo pop it in a term deposit and get the interest, though you'll have to declare the income i think, which may mean a lose of some centrelink benefits. but it would look nice in your normal bank account

[Junglemum]

run away.

[Olive]

and take me with you

[HotI]

Put it on the mortgage (reduce the interest you are paying) and keep paying the same amount into the mortgage you have been paying. DON"T let mortgage close though, if you get almost to pay it off, keep putting away your mortgage payments into separate account and transfer when you lose the $100,000 again.

[Ginger]

$100 000 is not worth running away with......is it? LOL


what would happen to the mortgage when you have to give the money back though kate?
wouldn't they charge you some sort of fee for pulling the money out?

[Phteven]

100k? I wouldn't bother. If you have to give it back in 2 years you have to play safe so you can't take the kind of risks that might see a great ROI. I don't do interest or mortgages so for me I'd just tell them to keep it lol.
Maybe I'd buy a house boat lol.

[HotI]

Depend on the bank, i reckon.

We have the mortgage with a credit union and are $x,000 ahead. So we don't pay interest on the $x,000. [Interest = % x (Total -x,000) ]

I think that if we wanted to take the $x,000 out again, we would just have to pay interest on this amount again. [Interest = % x Total]

That is how it would work, if i ruled the world anyway.