My mother was listening to the Joe Duffy show and is all in a tizzy. Folks took out one of these loans ~15 years ago. We had been planning to do something about it. I advised her not to get caught up in the JD stuff. The family went in eyes wide open at the time and knew that piper would need to be paid at some point.
So to my question. I would like to pay off the loan by buying a portion of their home. Loan is X. House is valued at Y. X = Z% of current home value. I would own that Z% of home going forward. Has anyone done anything like this?
It's been a long time since I've been on AAM so delighted to rediscover it in this context.
Thanks!
So to my question. I would like to pay off the loan by buying a portion of their home. Loan is X. House is valued at Y. X = Z% of current home value. I would own that Z% of home going forward. Has anyone done anything like this?
It's been a long time since I've been on AAM so delighted to rediscover it in this context.
Thanks!