gift of equity...

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Posted by Amy on November 22, 2002 at 11:36:13:
We are looking at selling our home and buying my parents home, who are in turn going to buy my grandparents home. A woman from the bank called regarding our mortgage application and suggested that we use a gift of equity from my parents. How exactly does this work and are there any disadvantages from either our side or my parents side? Will we have to pay taxes on the gift?

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Re: gift of equity... Stephen Asbill 19:42:02 08/01/03 (0)

Re: gift of equity... OLga Stratouly 08:42:02 07/09/03 (0)

Re: gift of equity... e*star 16:06:45 11/22/02 (1)

Caution: Fraud ? John Merchant 22:09:07 11/22/02 (0)

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