Partners want to aquire new loans to pay existing loans!?!
Date: Fri, 02/13/2009 - 17:41
I am stuck in a real estate "investment-nightmare" with family members. The house is upside-down between 100 & 200 thousand dollars. As we are all about tapped out of funds, my family now wants to take out new loan money to start contributing towards the existing monthly mortgage payments. I am stuck in this financial drain and I think this will compound the loss. Do you agree and what convincing advice can I pass on to them?
