so for the half share, was $400k when bought, now valued at $500k. remaining loan $300k.
sale is at $500k, the seller (wife
) paid me a cheque of $100k for the 20% downpayment which I didnt cash or will kenna sleep on floor
wife took loan of $400k to pay me, but bank deduct $300k for my share of mortgage, so net net take back $100k
wife now has $300k loan from her original half share + $400k new loan = $700k loan for the property. She literally has two loan letters for the two loans.
therefore, I say cheap money, not free money.
clear enough liao boh