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Jun 9, 2011 at 3:41 comment added user536048 Yes, I am okay with that. If the housing recovers a decent amount, I make a decent return on my investment as well, which I wouldn't be able to without the loan to begin with.
Jun 8, 2011 at 16:47 comment added JTP - Apologise to Monica Not a problem. Littleadv did a great job with a numerical example. Each 10% increase is a 17% return to the relative. If housing recovers a decent amount, the lender really benefits.
Jun 8, 2011 at 4:09 comment added user536048 Ah, I see. The amount I am unable to pay in this case will be a loan that I can pay off slowly. We have already agreed on a loan plan for such a condition and we are okay with that. (I seem to be unable to upvote until I get 15 points :( ).
Jun 8, 2011 at 4:04 comment added JTP - Apologise to Monica If you are very lucky, and the home doubles in 5 years, not impossible, the other guys 30% value doubles as well. If you can't pay that off, what will you do?
Jun 8, 2011 at 3:59 comment added user536048 Thanks. You mean I might be forced to sell by the family member if the price goes up a lot? That won't happen. Or did you mean something else?
Jun 8, 2011 at 3:53 history answered JTP - Apologise to Monica CC BY-SA 3.0