How does a family mortgage work for their kids?

Posted by admin
chipdoo 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?

Anyone can shed some light will be appreciated!

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    • This entry was posted on Tuesday, April 13th, 2010 at 6:50 pm and is filed under mortgages. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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    No Responses to “How does a family mortgage work for their kids?”

    1. Angie Says:
      April 13th, 2010 at 11:05 pm

      The loan mortgage to their children or anyone else they want keep in mind this issue was handled by lawyer heshe would be best.

    2. Mortgage Man Says:
      April 15th, 2010 at 3:34 am

      An attorney and you dont have to delinquent taxes are its not really good or bad thing the payments as well this.