Interest generating loans (mortgage) between family members
hello – i have a few questions below: i am thinking about getting a loan from my family for a mortgage.
i saw a posting here a week or so ago with the name of a website where you can actually go to have the loan formalized etc. does anyone know the name of that website?
if you get a loan from a family member (this would be a mortgage loan for my first home) and you agree to interest, is the interest deductible like a bank loan interest charge would be?
are there any other tax implications I should know about or be considering if i do this?
any thoughts, guidance etc. appreciated.