Monday, December 01, 2008 | 9:13 p.m.

Holding a Mortgage

by Edith Lank

Dear Edith: My sister has a property our father sold her years ago. She is having trouble financially and needs to sell. She asked me whether I think she should hold the mortgage. I think absolutely not! But I told her I would e-mail you for advice. — D.K.

Answer: As so often, it all depends.

Taking back a mortgage (lending the buyer some of the purchase money and collecting it year by year) might be a good investment for your sister — or she might end up in even mor ...

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Monday, December 01, 2008 | 9:13 p.m.
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