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Millennials’ New Weapon in Bidding Wars: A Parent’s Home Equity

Millennials’ New Weapon in Bidding Wars: A Parent’s Home Equity

Call it the mortgage merry-go-round: Parents refinance their home to fund the full cost of their son or daughter’s desired home. This allows the child to compete as a desirable all-cash buyer in an area where bidding wars are common. Then, when the purchase closes, the child refinances the new home and pays the parents back.

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