I’ll Be Nice, but I’ll Tell the Truth

I’ll Be Nice, but I’ll Tell the Truth
The borrower is slave to the lender, and loans between family members are no exception. studiostoks/Shutterstock
Dave Ramsey
Updated:

Dear Dave,

I’m 32 and a teacher. My house is my only debt, and there’s $55,000 left on my mortgage. My parents always taught my brother and I about saving and being smart with money. The other day, Mom and Dad offered to pay off the rest of my mortgage by loaning me the money with a very small interest rate. I know you don’t like the idea of mixing money and family, but considering I have a great relationship with my parents, what do you think about this offer?

Dave Ramsey
Dave Ramsey
Author
Dave Ramsey is CEO of Ramsey Solutions, host of "The Dave Ramsey Show," and author of best-sellers including “The Total Money Makeover.” Follow Dave at DaveRamsey.com and on Twitter @DaveRamsey.
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