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Bob Baerker
Bob Baerker
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My Brotherbrother got an amazing loan to buy his house from dad for 200$200,000 $ but he only pays 150 $$150 a month (100$100 capital +50+ $50 interest) to him. My question is ...is, is this legal? Doesn't the irsIRS see this as more of a gift than a loan? What is the minimum amount he should pay a month? He says it's a 30 year loan.

My Brother got an amazing loan to buy his house from dad for 200,000 $ but only pays 150 $ a month (100 capital +50 interest) to him. My question is ...is this legal? Doesn't the irs see this as more of a gift than a loan? What is the minimum amount he should pay a month? He says it's a 30 year loan.

My brother got an amazing loan to buy his house from dad for $200,000 but he only pays $150 a month ($100 capital + $50 interest). My question is, is this legal? Doesn't the IRS see this as more of a gift than a loan? What is the minimum amount he should pay a month? He says it's a 30 year loan.

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Ddd
Ddd
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Loan for mortgage from father to son

My Brother got an amazing loan to buy his house from dad for 200,000 $ but only pays 150 $ a month (100 capital +50 interest) to him. My question is ...is this legal? Doesn't the irs see this as more of a gift than a loan? What is the minimum amount he should pay a month? He says it's a 30 year loan.