QUESTION
Need to loan money to brother with his house as coladeral
Asked on Apr 26th, 2015 on Real Estate - Colorado
More details to this question:
Will pay off brother's morgage and he will live there and when selling the house will pay me back the loan with some interest. I live in MN. and he is in Co. How can we do that and be legal.
1 ANSWER
3 Awards
I recommend that you use a promissory note and deed of trust to secure your interest in the home. Most attorneys will draft these documents for you for a modest fee.
Good Luck!
Answered on Apr 27th, 2015 at 12:25 PM
Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.