http://www.reddeerrealestatelink.com/how-does-a-family-mortgage-work-for-their-kids/ Wed, 08 Sep 2010 09:12:29 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.reddeerrealestatelink.com/how-does-a-family-mortgage-work-for-their-kids/comment-page-1/#comment-738 Mortgage Man Wed, 10 Mar 2010 06:53:32 +0000 http://www.reddeerrealestatelink.com/how-does-a-family-mortgage-work-for-their-kids/#comment-738 Yes, what you're asking for is a private mortgage. The rate is determined by your parents, and you should definitely use an attorney and an accountant. They'll help you figure out what the amortized payments are. Its not really a good or bad thing. The first part is the parents will need the 300k to lend to you. also, make sure the taxes are figured into the payments as well. This way you don't have to worry about the county forcing sale on the house due to delinquent taxes. You'll need to find an escrow company in order to establish that as well. Yes, what you’re asking for is a private mortgage. The rate is determined by your parents, and you should definitely use an attorney and an accountant. They’ll help you figure out what the amortized payments are. Its not really a good or bad thing. The first part is the parents will need the 300k to lend to you. also, make sure the taxes are figured into the payments as well. This way you don’t have to worry about the county forcing sale on the house due to delinquent taxes. You’ll need to find an escrow company in order to establish that as well.

]]> http://www.reddeerrealestatelink.com/how-does-a-family-mortgage-work-for-their-kids/comment-page-1/#comment-737 Angie Wed, 10 Mar 2010 05:59:34 +0000 http://www.reddeerrealestatelink.com/how-does-a-family-mortgage-work-for-their-kids/#comment-737 Parents can give a private loan (mortgage) to their children, or anyone else they want. Keep in mind, this is a business transaction. It would be best if this issue was handled by a lawyer. He/she would help determine a fair interest rate and other term of the loan. Parents can give a private loan (mortgage) to their children, or anyone else they want. Keep in mind, this is a business transaction. It would be best if this issue was handled by a lawyer. He/she would help determine a fair interest rate and other term of the loan.

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