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income based loan -student Securing a loan (0 viewing) 
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TOPIC: income based loan -student Securing a loan
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income based loan -student Securing a loan  
Hello all, I have a question about what it means to secure a loan.  I want to loan some money to my son to help him buy a house.  This will be a real loan in that sense that he will pay me the same interest as he's paying the bank for the rest of the loan. I understand that to deduct from his taxes the interest he is paying me, he need to make the loan legally binding .  My understanding of that is that he has to give me or to register a lien against the house in my name (or something like that).  Could someone clarify this issue?   Specifically, what does he need to do to properly record my loan so that he could deduct the interest paid. Thanks in advance, Francois
 
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Francois Bronsard 2008/05/03 06:18
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Stuart O. Bronstein 2008/05/03 06:18
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Arthur L. Rubin 2008/05/03 06:18
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