Brought to you by the Every Dollar app. Start budgeting for free today.

So my wife and I a few months back were presented an offer deal for my parents to buy their house from them.

So through them and not a mortgage company, so pretty much like a rent to own, we had about $60,000 in debt.

So we decided to sell our first home and take their deal.

So we used that money to pay us about $30,000 in debt, the equity from our, the sale of the house. So my question

is, is after we pay off a little bit more debt, which we have about $30,000 left, is it smart for us

to continue to pay the house through my parents or get a mortgage loan.

So you simply just took over the payment.

There was no payment.

No, there's no payment.

The house is paid for and you're paying them payments.

No, so my parents have a mortgage and we're paying.

We've agreed on a price to buy the house.

The house, the price that they're selling it to us, quote unquote, is below market

value.

They're selling it to us at the county appraised.

Which is what?

$340,000.

And market value is like $380.

And what do you guys make?

Right now I make about $75,000 a year.

My wife is with my two kids.

...