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re: Any positives/pitfalls of taking home loan from family?
Posted on 8/18/13 at 10:54 am to The Hamburglar
Posted on 8/18/13 at 10:54 am to The Hamburglar
I would speak to a tax attorney regarding the interest deduction.
As far as loan, I know a couple people who have done this, where the parents are the bank and they get a % return on their money, and when they kick the bucket the debt is absolved.
Just have everything notarized so at no point there is any gray area regarding the terms
As far as loan, I know a couple people who have done this, where the parents are the bank and they get a % return on their money, and when they kick the bucket the debt is absolved.
Just have everything notarized so at no point there is any gray area regarding the terms
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