Money Manners

April 26, 2014

When lending to family, be prepared for all eventualities

DEAR JEANNE AND LEONARD: My son-in-law has proposed that my wife and I lend him and my daughter the money to buy their first home. They would pay us a higher interest rate than we can get on CDs, and we would have a predictable source of income in our retirement. Plus, the interest they’d be paying us is less than the mortgage rate they’d have to pay a bank.

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