/biz/ - Business & Finance

>>1824069
>Saved up $250,000
>Bought $400,000 home with $150,000 cash and mortgaged the $250,000 remainder
>Made $100,000 payment on day 1 of mortgage with the option to withdraw it if needed (aka 'redraw'')
>$150,000 mortgage remaining - aka 8 years ahead on my payments on day 1
>Dad has $150,000 sitting in an account after divorce settlement
>Suggest dad transfer that money into my mortgage (with option to redraw)
>He agrees on day 5 of the mortgage
>$1 mortgage after 5 days