My FIL got a loan out for my husband and now I’m confused My husband had to total his car in 2019 (may) due to a hail storm. At the time he was 19 and clueless and his dad got out a loan and paid off his car. I was told the loan was $6,000 and has an interest rate of 10%. This would mean he pays $7640 over the span of 60 months (5years) at the minimum payments of $128. We have a baby on the way and I…

Elderly FIL paying off mortgage My in laws recently downsized (Aug 24) taking out a mortgage of $100,000 with 6% interest. MIL then unexpectedly passed (Nov 24) leaving my FIL a significant life insurance policy, 500k. My FIL is not in good health and likely will need to move into assisted living in the next year. He wants to pay the house off in full. Any advice as to whether…

FIL opened a mutual fund for my son but won’t give us any information on the account. Not sure if I should be concerned or not. Shortly after my son (now 2) was born, my husband’s father asked for my son’s SSN so he could open a mutual fund account under his name and put some money into it for each birthday and holiday. After discussing the matter, we decided to say yes and give him the information he needed to open the account. He tells us this is something he does for …