Don’t do guarantor. One, it encourages them, two, it puts you into a vulnerable position
I can probably get my broker to see if I can get you a better deal.
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Why?
Tons of threads on this.
Here’s a current situation for a foreigner I know personally.
Once the adultery law was decriminalized, a Taiwanese wife changed the locks on the apartment and moved her lover into the house. She refused to allow her American husband into the house or to let him see or speak to his two children. She had absolutely no valid cause to do this. Wife told the security guards not to let him into the building because there is a police protective order against him. They have barred him from his residence although there was no paperwork provided to prove that a protection order ever existed. There isn’t and there never was. The security company is following the wife’s directions without any legal cause. He’s gone to court six times, filed numerous police reports, which the police tried to discourage, won a judgement against her in court. After three appeals by his wife, he still won. His final verdict says he has the legal right to return and reside in his home and have access to his children. He has the official court judgement in hand and tried to return to his home two weeks ago. He showed the paperwork to the building security who refused to allow him to enter the building. They called his wife who instructed the building security that he was not to be allowed into the building regardless of the legal papers because it was her house. The building security complied with her demands without her needing to show them anything. They told him to leave at which he held up the court judgement and refused. Building security then called the police on him. The police arrived and he showed them the court paperwork. The police refused to uphold the legal court judgement and told him to leave. He requested to file a police report and they strongly suggested that he didn’t. But he insisted and they reluctantly allowed him to file yet another police report which they will most likely “forget” to send to the prosecutor’s office like the last time. This saga has been going on for two years. The guy has done absolutely nothing wrong. Another man is fucking his wife in his bed and in his apartment that he paid for and playing father to his two kids.
The house is in her name as well as the mortgage because no bank would give him a home loan. However, he’s paid all the bills for everything over the past 7 years of marriage because his wife feels that working is beneath her.
Taiwan is a super racist place and if he had done the same thing to her, no doubt he’d have already been in jail after initially changing the locks on the house and keeping the kids from her.
If she had done any of the things she’s done in the US, she’d already have been arrested and tossed in jail for parental kidnapping and refusing to abide by a judge’s order. But Taiwan? Nah. Fuck the foreigners and their rights because they don’t have any.
And of course we can now cue the naysayers who will cry out, “But we’re only hearing one side of the story, blah blah blah shit. This is only one very current story of lather rinse and repeat in Taiwan. So many instances written about in the forum and so many more suffering in silence out of embarrassment and shame. So, what now?
Even if your name is on the mortgage or on the title, there is nothing to stop you from losing everything and/or going through a complete nightmare if your Taiwanese spouse turns on you. Court judgement in your favor and the police won’t enforce the order anyway.
I recommend you buy a house, get a mortgage on your own without even having your spouse being the guarantor. Protect yourself at all costs because Taiwan doesn’t care!
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I see that point. That is with co-ownership then, right? But if one has a guarantor that is not half owner and does not live in the unit I assume that does not put you into a vulnerable position.
Never assume anything!
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When there’s doubt … there is no doubt.
Thx for the insight guys.
Not necessarily. If I was a vindictive spouse or a spouse felt extremely wrong and a guarantor in a bitter divorce, (not saying it’s gonna happen), there is a possibility I’d do whatever I can to ruin him and then when unable to pay the mortgage, I get to receive the house halfway through the mortgage and start paying on that.
A guarantor can make things messy in a divorce, this is one example.
Or they force you to sell the place, getting the guarantor’s name off the property can be difficult. Then you gotta spend thousands trying to rebuy a new one and getting a mortgage on your own.
NO way!
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Let me just get the message from my mortgage broker and I’ll send you his LINE when he sends me his QR code.
I think I can help you get better.
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Yes, a divorce I can understand. Again though, this would usually be a co-owner who probably lives in the unit with you.
I’m thinking of a situation outside of marriage like parent, sibling or friend none of whom are co-owners, who just signed as a guarantor of the mortgage. If they have no financial investment they wouldn’t be able to force you to sell, could they?
Nice one. Thx.
Hi. This is Mr Su. He is my mortgage broker.
He speaks Chinese. But hopefully you can get through with him and get a guarantor free mortgage.
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Thank you Marco.
All the best.
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So… Let’s write an update.
I bought this house in the middle of a tenancy agreement. The lease expired in September. The tenant has not responded to requests to vacate and has gone NC. Currently the courts are handling my application to evict. We expect a decision by early December.
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KICK HIM OUT! nicely
Unfortunately, not uncommon. Is the tenant still paying rent (and utilities)? If not the eviction process will be easier.
We’re doing this legally.
My real estate agents have been acting as superintendents and taking care of the evictions.
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No. The real estate agents have been paying me the rent.
I figure they’ll go and break his fingers after we get an official eviction.
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(ofc legally, not suggesting showing up to the door with some baseball bat, masked face not to be recognised, and advise him to gently move his bottom out of the property)
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It’s certainly tempting.
I gotta keep my inner Calabrese tame.
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