Posted on: 17th Jul, 2010 12:15 am
We are helping our kids buy a home. we took out a home equity to pay for their home. They plan on refinancing in a couple of years to pay us back. What's our best way to handle this. All our names on the title or us as the liemholders?
all of you can add your names on the property deed. this will make you owners of the property. also, if you wish you can sign an agreement with your kids regarding the paying of the debts after a stipulated period of time. thus, as per the agreement your kids would be bound to refinance the loan.