Parents ... as the lender & bank in the state of colorado.

[John D.]

Hello,

I'm interested in making an all cash offer to a bank owned single family home.   The trouble is I would like to get a loan from my parents of 50% of the home cost and make payments with interest to them monthly.   Looking into Colorado law it seems that is harder than it appears.   What are my options here?  What would a personal loan of $150,000 be put on my taxes?

http://www.summitdaily.com/news/19274902-113/mountain-law-when-mom-and-dad-are-the

Thanks!