Mortgage Options: Patronizing the Family Bank

Mortgage Considerations as home buyers continue to compete for properties in the current market. Some buyers are getting creative and eliminating their mortgage contingency entirely giving them the edge in multiple offer situations. By borrowing from the family, they can submit an offer and apply for a mortgage after the closing date. HouseLogic gives some tips in the following piece to help keep the “family business” in working order.

•  Mortgage Options: Patronizing the Family Bank

  In a time of choked credit and painfully low CD rates, some home owners and their parents are cutting financial institutions out of the mortgage picture and banking on each other. Read