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re: Cousin just asked me for money: he’s a high income earner and parents are wealthy
Posted on 8/18/23 at 6:17 am to RedRifle
Posted on 8/18/23 at 6:17 am to RedRifle
quote:How’s he upside down? Home prices are still high as hell and mortgages on investment properties usually require at least 20% down.
He’s fricked on that end. Upside down
Sounds like if you loan him $50k that you may as well forget about ever seeing that money again. Tell him go ask his parents for money or try to talk to his mortgage lenders about possibly doing a short sale to offload the properties he can’t afford
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