Meet the Parents-Backed Mortgage

摘要

David Ragan and his wife, Jocelyn, own a starter home they bought three years ago for $125,000 in a new subdivision in a rural area some 15 miles outside of Denton, Tex. Since then, their children—James, 2, and McKenna, seven months—have joined them, and the house is getting crowded. The Ragans would like a bigger home in a more established neighborhood in Denton with good schools. Such a house might cost at least $180,000, which is a stretch.