How does a family mortgage work for their kids?
Tuesday, April 13th, 2010chipdoo asked:
Is it possible for a parent of a married couple to take a loan or a mortgage from a parent for, lets say $300k or so?
Is this possible? How does the interest rate work? Is it determined by the lender (the parents)?
Would this be a good thing for both the kids and the parents?
Is it possible for a parent of a married couple to take a loan or a mortgage from a parent for, lets say $300k or so?
Is this possible? How does the interest rate work? Is it determined by the lender (the parents)?
Would this be a good thing for both the kids and the parents?
Anyone can shed some light will be appreciated!
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