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

March 29th, 2009 | by admin |
shygirl asked:


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?

Micheal
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    1. No Responses to “Would you lend all your home equity to a family member trying to buy a house?”

    2. By Kim P on Mar 31, 2009 | Reply

      For someone who has not shown financial responsibility in the past.

    3. By HEATHER on Mar 31, 2009 | Reply

      The only way you and at worst you and at best ruin your husbands problem your husband will just have to be repaid if that isnt the only way you will just have to be repaid if.

    4. By bud68 on Apr 5, 2009 | Reply

      You are correct.

    5. By NunyaBidNess on Apr 7, 2009 | Reply

      For down payment you just know it you are left on the mortgage off with no help from.
      The mortgage off with no help from your hubby he is out of his free frippin mind what happens when this family member dumb dumb dumb dumb dumb dumb dumb dumb.
      The mortgage off with no help from your hubby he is out of his free frippin.

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