I am told by a few friends that once the loan matures, the government won't care anymore as long as I keep sending them money every month. Plus, the government have larger fish to fry, they will go after businesses that got millions. $120k is not worth their time IMO.
Would you accept this offer?
Discussion in 'Questions From New Drivers' started by Solo Soul, Jul 21, 2021.
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Just to let you know, if the government does decide to come after me after two years and finds out their money ended up as a down payment on a house, their penalty will be very harsh. 1.5 times the total loan amount will be due immediately, that is $180k due next day lol.
That's why I am here discussing this. I haven't signed the agreement yet, and it is not an easy decision to make. I am just staring at the cash right now. I don't have the courage to go ahead because my intention is bad. Yes, to be honest, my intention is bad. My intention is a house, and not expanding my business. How am I gonna expand my crappy job of food delivery anways. -
No give 401k, me no worky for you.SoulScream84, slow.rider and Solo Soul Thank this. -
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Ever hear the saying, Don’t trust the government?
Think they’d lose money?
It’s all in their favor, or they wouldn’t do it.
It’s like saying, I’ll lend you $100.
But on such a date I want my $100, plus $375 of your money.
So, you get a $100, but it actually cost you $475, the $100 you owe plus $375 interest, pretty good mark up.48Packard, firemedic2816, Doealex and 2 others Thank this. -
Midwest Trucker, Cattleman84 and Solo Soul Thank this. -
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Hazmat Cat and Solo Soul Thank this.
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You want to buy a house go get a first time home buyers type of loan. You're not going to be able to buy a real nice place, but assuming you're a single person you don't need a real nice place. You really don't need a real nice if you're planning on doing the over the road thing, you'll never be there anyway. Hell I'm a single guy, I don't own my own place at 25. All I'd need is a bed and an easy chair in the corner of a shop/toyshed. Land to put one of those on isn't exactly easy to get around here. -
Doealex and slow.rider Thank this.
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