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Tina
Tina, Lawyer
Category: Legal
Satisfied Customers: 8775
Experience:  JD, BBA Over 25 years legal and business experience.
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My son has low income but ok credit. s fiancé has better

Customer Question

My son has low income but ok credit. His fiancé has better income but bad credit. They have to buy a house as their lease is up. My husband agreed to help them buy a house and loan 15K for downpayment. It is a second home for us.
House will be in our name. We need to understand our responsibilities and when we can sell this house to our son or give him it as a present, or other options? We reside in PA.
If more details needed please let me know.
Thanks
Maria ***@******.***
Submitted: 1 year ago.
Category: Legal
Expert:  Delta-Lawyer replied 1 year ago.

I hope this message finds you well. I am a licensed attorney with over a dozen years of experience handling similar issues for clients. It is a pleasure to assist you today.

First off, you are to be commended for taking this action. It can be great, but it is not without complications.

Are you stating that your husband will take out the loan and will make the down payment and your son and fiance' will make the monthly mortgage payments?

I look forward to hearing back from you.

Thanks

Expert:  Delta-Lawyer replied 1 year ago.

Just checking back with you to see if you received my question. Thanks