I am purchasing a home from my grandfather and he wants to GIFT some of the equity to help me with the downpayment. Is this an option?

Asked by kaiser.b, 47001 Tue Jan 15, 2013

He is selling it for $60,000 and want to "gift" $20,000 of the equity he has in it.

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Miekeba Jones, Agent, Silver Spring, MD
Tue Jan 15, 2013
Hi Kaiser! Has he pulled the equity out of the home and placed it in your account? Consult your lender.
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