?

Log in

Previous Entry | Next Entry

Loans from Family

Have any of you been offered loans from family members to help buy a home?

Would you accept such an offer? What factors would impact your decision?

If you have ever accepted such an offer in the past, how did it work out? Would you recommend it?

Comments

mrs_dragon
Apr. 18th, 2009 10:17 pm (UTC)
In my family, that's flipped, or at least my brother is c.o.v.i.n.c.e.d that it is and I don't have enough facts to really know. The problem is that I am eldest, so I just assumed they would offer him the same things, now I wonder. I would feel awful adding fuel to that fire.
muliebrity
Apr. 18th, 2009 10:20 pm (UTC)
I can understand that. I'm the oldest, and my parents have always been more accommodating and generous with my sister than with me because she plays her role as the baby of the family very well. Although our relationship is good, I know it can be a source of tension that is hard to resolve. In your case, I would probably avoid taking it unless it was the only solution I had, since your relationship with your brother doesn't have a price tag.
blightology
Apr. 19th, 2009 02:56 pm (UTC)
your relationship with your brother doesn't have a price tag

Nods. I never bothered to run a tot-board WRT my brother (he's 6 years younger than I am). My parents paid for both our college educations, but I had more scholarships so he technically got "more." They bought us both shitty used cars, but his was twice as expensive because I got a compact and he got a pickup (he's a mechanic and needs it). When my gramma passed before she could give him a down payment for a house like she did for me, I just wrote him a check. Why not; he works hard & deserves it.

It's family; it shouldn't be transactional.

Profile

castle
hunting_houses
Hunting Houses

Latest Month

July 2009
S M T W T F S
   1234
567891011
12131415161718
19202122232425
262728293031 
Powered by LiveJournal.com