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Reply to "Buy parents' house outright or private reverse mortgage?"
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[quote=Anonymous]DP here: Also thinking about doing this with my mother + step-father's beach house. However that is going to be probably worth $1.4M and they still owe $600K on the property at 3% interest. We don't have cash for that kind of transaction and we'd love to assume that mortgage. Was wondering about the best way to structure it. [/quote]
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