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Reply to "Did you get parental help to buy any houses you own? "
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[quote=Anonymous]We got help with purchasing--my parents gave us money to be able to pay for our house in cash--but as soon as we closed, we took out a mortgage to be able to pay my parents back. So it was a short term, no interest loan of $650k for an $850k house, for which we had saved $200k for a down payment. We had made offers on 3 or 4 houses and lost so my parents suggested this as a way to have a more appealing offer. We paid every sent back within a month. Still, we were and are incredibly grateful. It turns out our offer was not the highest either nd was specifically chosen because it was all cash. [/quote]
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