Land/Home Contract

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Darrell3559

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A few years ago my wife and I bought a home through some family friends. The contract was simple with few provisions, $500.00/month with no interest until the selling price was met. I recently found out that they took out a $24,000.00 home equity loan against the house that I'm paying for so that they could update their newer home, paint,carpet,etc. Was this within their legal right to do this?
 
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