Wednesday, October 10, 2007

Can I Borrow From You?

One of my brother approached me and inquired about my financial status. Why? It is because he is buying a new house and is short of a certain amount to cover the whole purchase price. Due to a miscalculation and certain factors being overlooked, he bought the property but then realized that he is short of money to cover the whole purchase price.

Of course, there are various options available to him. If he does not want others to know, he can use his credit card and withdraw cash money whenever needed. However, this is a little bit risky as he would have a bad credit status should he failed to pay the credit card company in time. Another option for him would be to seek help from family members, which he did. This is where family bond and love comes into action. At this moment we are trying to figure out what is the best way to help him out.

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