Can Paying Off Your Child’s Mortgage Increase the Total Amount You Owe?

In poorer rural areas, farming yields less than $10,000 a year.

Life is tough, especially when a already-fragile cash flow is further burdened by long-term debt. For example, taking on a mortgage for the sake of marriage only worsens an already-unhealthy financial situation. Add to that the current economic downturn, and it’s no longer enough for the older generation to cover just the down payment for their children—they’re now shouldering the entire mortgage loan as well.

The Sacrificed Later Years: A Sanitation Worker Father Pays Off His Son's Mortgage