(Reuters)

Jan. 4, 2012 — Billy Lacher couldn’t have purchased his split-level home in October without a little help from an increasingly popular financial institution: The Bank of Mom and Dad.

The 31-year-old New York City firefighter and his wife put a 10 percent downpayment on the $285,000 three-bedroom home, but his parents provided an additional $20,000 (half as gift, half as loan). Read more….