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Reply to "Family wants to give $ for house down payment- WWYD?"
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[quote=Anonymous]Make it a loan. Draw up a promissary note with monthly payments and an interest rate lower than what the bank would charge but higher than what your parents would receive from having the money sit in a savings account. We did this and it worked out well for all parties. You get your bigger house in a safe suburb with good schools, your DH keeps his pride, and your parents get the satisfaction of helping you and making some money at the same time. [/quote]
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