2 Thoughts on What does buying a home with shared equity mean?
  1. Reply
    August 22, 2011 at 7:07 am

    Don’t do this.

    If you read Dave Ramsey “Total Money Makeover” he says don’t even bother trying to find the details of scams. This is a scam.

    What this sounds like has been called a “rich uncle” in other times and places. Some stranger pretends to care about your needs-they “help” you get a loan. They end up owning “Part” (later you find out this means all) of the home. You make the payments and repairs and take all risk-they in the end will get all the profit.

  2. Reply
    August 22, 2011 at 7:08 am

    Shared equity means you don’t own the home by yourself. You’re going to have a co-signer on the loan and if you don’t pay, you’ll loose all the money you spent on that house.

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