My Home Loan Journey

How to Increase your income and become wealthy by Brain Tracy

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 10 Lessons from the The Science of money How to increase your income and Become wealthy by Brain Tracy and Dan Strutzel: 1. Money is a tool its not the goal the goal is to use money to achieve your financial goals and live a fulfilling life 2. You must earn more money than you spend this is the foundation of wealth building  3. You must save money this means putting aside a portion of your income each month  4. You must live within your measn this means spending less money than you earn form ur side 5. You must live within your means this means spending less money than you earn 6. You must get out of debt is a major obstacle to wealth building  7. You must protect your money this means having insurance and diversifying your investment  8. You must give back to your community this is a way to show your gratitude for your success and to make the world to understand the better place 9. You must be patient and persistent wealth building takes time and effort dont e...
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`Joint Home Loans ? Can Rising Divorce Rates

While Sharing Financial responsibilities can seem consideration is essential before opting for Home Loan    







So if you are thinking get joint home loan with your spouse not necessarily a bad idea taht they can be a bit more risky compared to other types of home loans
After all marriage new and challenges crucial decision that requires a lot of thought because its a long term commitment affect your financial situation so think about it and then decide even your marriage





Right to Home Ownership

A joint home loan spouse or partner easy way to desired homeownership may seem like a financially sound decision especially if you take into consideration long term may bring and closer inspection there are many drawbacks to this particular arrangement that make if not worth taking up one of these drawbacks is that the share of ownership of the property will be limited in case of death one reason for the limitation that after one spouse files or divorces has to claim to the properly unable to sell it without a court order

Incase of Divorce





Divorces is a big deal is our country form social judgements to mental agony to lastly financially toll divorce has never been easy however the number of divorces in india has doubled over the past two decades united nations where the husband and wife borrow a home loan and then divorce things can get tricky when it comes to the loan repayment for instance if one of the two stops paying the Emi'S after divorce the wholde burden falls on the other spouse

Sudden Changes in Finances

why people avoiding joint home loan it can be lead to an increased risk of the foreclosure and bankruptcy if any one person credit score goes down or if they lose their job then both of them will be affected by these changes There is a risk that one spouse might overpay while the other one doesn't to understand theat it can take years to pay of these loan 

Impact of Deaths

The death of a spouse can be both emotionally and financially torturing at the same time similarly if a married couple has take a home loan and some one dies the burden of repaying the payment it very difficult to repay the payment EMI falls entirely surviving partner must clear the payments otherwise it might put them in a difficult situation such as bank lender seizing the appliciants


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