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Updated about 8 years ago on . Most recent reply

Account Closed's profile image
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Account Closed
  • from minneapolis, MN
  • Member since Oct 5, 2017
Account Closed's profile image
Account Closed's profile image
Account Closed
  • from minneapolis, MN
  • Member since Oct 5, 2017
Account Closed
  • minneapolis, MN
92
Votes |
79
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Starting Out

Interest-only LOC from my relative. Secured against collateral??

Account Closed
  • minneapolis, MN
Posted

My broker is telling me that if I get a loan from my grandfather for  a down payment, that it has to be secured against real collateral! I saw somebody on here saying that you wouldn't want to do that. What is the truth?

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