Need Advice on Repaying Uncle for Family Shop Investment
Please excuse my English. I’m feeling down and need professional, brotherly advice. Before I was born, my father and his brother pooled money to build a house. Years later they fought over ownership and my father lost his share. After that, he bought land and built a new home without telling me, his only son. When he ran out of funds for three rental shops in front of the house, he turned to his elder brother again without my involvement. Now he’s informed me that the shop is complete and my uncle has a stake. I can’t afford to repay my uncle now. What should I do? Are there banks or finance houses that will lend against property as collateral? Any advice would be greatly appreciated.
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