San Diego Housing Market News and Analysis
A close friend/relative wants to borrow money. What do you do?
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Submitted by patientlywaiting on April 15, 2008 - 1:02pm
So a colleague of mine has a relative out of state who needs to borrow money to make mortgage payments while they refinance.
The borrowers promised that they have enough equity to refinance and pay back the loan within several months.
I advised against it.
But saying "no" may forever ruin an otherwise good family relationship.
What would you do?
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