In article ,
Phisherman wrote:

wrote:

This is a little OT, but I am going to take over the mortgage on my
son-in-law and daughters house as I can get more interest from them
than on a cd and they will get a lower rate from me than they can get
at a bank. (5%). What is a good, cheap way to get the mortgage forms,
and what are the different pieces of paper called. It has been a long
time since my wife and I had a mortgage and I am rusty on all the
various names.

TIA

Bob Hofmann


This is a risky proposition! You have to consider what happens when
your son-in-law/daughter can't pay. Do you let it slide? Create a
fuss, awkward situation, or family resentment?
Also, if you give them a below market interest rate, there can
be some rather nasty tax consequences. Personally I wouldn't touch this.