Timeline for Are my parents ripping me off with this deal that doesn't allow me to build my equity in my home?
Current License: CC BY-SA 3.0
6 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Aug 22, 2017 at 16:53 | comment | added | xiaomy | @psmears I'd go along with your suggestion but ditch the bank and try to negotiate an equity-to-debt conversion deal with the parents instead...like an in-house mortgage. | |
| Aug 22, 2017 at 16:50 | comment | added | psmears | @xiaomy: Sure - but they'll have all those costs either way (though I guess they may be able to save some depending on what documentation they have from the original purchase); and even more costs if they buy a new place and move into it! | |
| Aug 22, 2017 at 16:12 | comment | added | xiaomy | @psmears OP would still have to pay for all fees mortgage related (origination, appraisal, title search etc.) though. | |
| Aug 9, 2017 at 12:45 | comment | added | psmears | If you decide to go down this route, you could always look into getting a mortgage and buying out your parents' share - this would avoid the hassle (and cost!) of selling up, buying a new property, moving etc. | |
| Aug 9, 2017 at 0:56 | review | First posts | |||
| Aug 9, 2017 at 2:39 | |||||
| Aug 9, 2017 at 0:52 | history | answered | cybernard | CC BY-SA 3.0 |