When it comes to giving a gift that might truly last a lifetime, paying off someone else's mortgage might be the ultimate present.
Video of a young tech entrepreneur paying off his parents' mortgage for Christmas last week has gone viral, The Sacramento Bee reports. Joe Riquelme, founder of the smartphone app Videoshop, posted the video to YouTube, where it has since racked up over 7 million views.
How can those considering paying off someone else's mortgage next Christmas (or any time before then) do the same? Here's a general overview of what you need to know: