If he's unable to obtain a traditional mortgage on the new property you could write him a personal mortgage for it. Another option would be to help him obtain a HELOC on the current house to use as a downpayment on the new house. Only other thing I could think of would be if you purchased half of the current house and owned the rental together. Technically you're probably not supposed to keep the mortgage in that scenario but I'd wager nothing happens to it if the payments continue to be made.
In general I probably wouldn't get too involved unless he's asking for help.
In general I probably wouldn't get too involved unless he's asking for help.
Statistics: Posted by Bikesy — Sun Dec 01, 2024 6:03 am — Replies 3 — Views 235