Should I Help Relatives Purchase Home - Yay or Nay

Robbie3000

Veteran
Supporter
Joined
May 20, 2012
Messages
29,374
Reputation
5,139
Daps
129,457
Reppin
NULL
The house is going to remain in your name until you can sell it to another buyer. The mortgage is your obligation. Even if you were to do a quit claim deed to put it in your grand parents name.
 

rapbeats

Superstar
Joined
Jun 8, 2012
Messages
9,363
Reputation
1,890
Daps
12,849
Reppin
NULL
Would it affect me when filing taxes? I'm not getting a dime out of this, would I have to file that I'm being payed rent and what not?
yes. dont try to cheat the man. but you would also get a tax credit most likely. that your grand parents wouldnt be able to get. thats only fair since your credit is on the line.
 
Top