Using family trust money to refi my home

12-23-2008, 03:26 PM

Junior Member

Join Date: May 2006

Posts: 8

Using family trust money to refi my home

What is the name of your state (only U.S. law)? AZ

I am a trustee on our family trust. Interest rates on CDs are falling and we do not want to trust anymore money with the banks right now. The Grantor is also a Trustee. She wanted to lend me money from the trust to pay off my mortgage and refi with the trust money. The interest rate would be good for all concerned. I am looking at $130,000 loan from a home that is realistically appraised at $185,000 ...approx. 30% down. How if possible can we set up this loan for a 5 to 7 year balloon refi? My credit is excellent and I have an annuity and a full time job. What should we do to protect all involved? Any suggestions?
Thank you, Ed

Find an Attorney

« Previous Thread | Next Thread »

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)

Thread Tools
Show Printable Version Email this Page
Display Modes	Rate This Thread
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode	Rate This Thread:

Posting Rules
You may not post new threads You may not post replies You may not post attachments You may not edit your posts BB code is On Smilies are On [IMG] code is Off HTML code is Off Trackbacks are On Pingbacks are On Refbacks are On

Forum Jump

All times are GMT -5. The time now is 08:44 AM.

Contact Us - FreeAdvice - Archive - Privacy Statement - Top

IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.
FreeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.