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How do I “secure” a personal loan?

Friday, June 12th, 2009
decker asked:


I am planning on a loan in the form of home equity participation but through a relative. Declare the interest they pay on their taxes. I claim the interest paid on my taxes, so you need to secure the loan against my property. I have some vague idea of what I need to do but to specific need. Obviously, I spend as little as possible to secure the loan. I live in Maryland. Anyone has done this before? Thank you.

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