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Posts Tagged ‘member’

How Do I Go About Collecting 27,000 loan,From A family member.?

23 Mar

Hello, I hope someone can help…!! I Loaned 27,000 to my
Son’s Father in Nov,With a Promise I Would Recieve my Money Back at the latest First of Jan,The Money was sent to
His Oldest Son..Who told him He Could not take the Equity out of the Home he owned..For the Purchase of what he found..So to Hear, Now He has Took Half the Money Put down on this house…other Half to fix it up …& now the son who has my Money has lost his Job…Right after he Recieved it,How Convenite…So my money has Gone to The Father in Michigan,then To Arizona…The Father Has Cancer & He Is trying to Sell his house in Michigan,To Be able to move to Arizona,With his Oldest Son…Such a Mess..& My Ex ..Says
Well he has no money..to Pay me Because he has no Job..& cannot get a loan…& No one want to give me His …Ph..number
As I’m in Calif..I’m Tierd Of my Ex thinking he can Just Send …
600.00 or less a month,Enough just to take care of Utilities
And now I have to move…& have no money..

 
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Would you lend all your home equity to a family member trying to buy a house?

02 Mar

My sister in law just filed bankruptcy and decided to let the bank take her home so she can start over. But now she and her husband found a house for 60k and is asking her brother (my husband) if she can borrow money from our equity that we have on our house which is basically all of the equity that we have, so she can purchase this home. My husband is thinking of lending it to her but I think it is a bad idea. What should we do?

 
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