could this actually work out?

[tigger_gal]

Cathy told my mom if I had 20 grand to give her, she would let me just assume her mortgage. of course she would sign a release of lean and a quit deed, and what ever else there is that her or her kids have no claim on it!
ok this would be great, its 3 bedrooms, a fire place, central air.. a huge back sun porch. It is 2 times the size of mine. the kitchen is bigger then my living room. and the back yard is nearly as big as mine.

so... If I would have to assume both the first and the 2nd mortgage (which is a home equity loan) why not take the 20 grand out of that?

advice needed

[dancemomof2]

You need to get all your ducks in a row before you assume anything like this. This could turn out to bite your butt and your homeless. SHe hasn't been the most reliable person threw all this and your not thinking straight right now. Your brain is set on helpping these babies which is great but not looking at the long picture. You have had so many "other" people in your life that may be of more help and lighten your headaches. You know who I am talking about and i won't go there. You need to stop, step back and look at this as if it were only a temp. issue. You don't have this other baby yet, yours is going to college, and other people in your life have been willing to help you with Jake. Think long and hard is all I have to say PLEASE

[tigger_gal]

I know it.. I told my mom the same thing, it was something to toss out and get some point of views.. what would I do with out you Leslie?

[GriffsMommy]

Cathy is your sister? It sounds like it could be a good thing but like Leslie said you have to think it through. You may not even need that extra space. I would say think about it long and hard and if she is willing to do it she should let you do it later on down the line when you will know for sure if you need it or not.

[ICNDonna]

You might want to check into the cost of adding a room to your house first. And by all means, you need to speak with a financial planner AND an attorney before you even consider it.

Donna

[tigger_gal]

the longer I sit and think about it the more I think that it maybe a bad idea. I would love the room regaurdless. The only way I would ever consider any of it, is if it was all done legally and no strings attached.
I don't think it is a wise option right now. I am not even sure if I will get the new baby.

[traceann]

Glad to hear you are thinking it through, my little alarm bells and red flags went up as soon as I read it, lol. I wonder even if her mortgagee would even let a transfer of title and ownership go through, since there is a lien on the property. I would think the lender would want the amount paid off and then transfer ownership - but that's just my thoughts, lol. There's all kinds of headaches in this sort of thing to cause you a heap of troubles, lol. And troubles are the last thing you need right now! Is it possible to add on to your place?

Good thing you're a smart cookie and won't make any decisions ideas without as Donna said, some legal advice and financial advice!!!!

Keep the brainstorming going though, there's bound to be a solution just waiting out there.....

HUGS!!!!

[SharonA]

Looks like I don't have to talk sense into you. It has already been done. Don't let your love for these babies cloud your better instincts. Logic needs to win, not passion. (((hugs)))

[tigger_gal]

I have a 20 x 15 foot section that I can build on to, just don't have the funding.
what ever happens, happens. There is nothing I can do it is all in gods hands. I really would only want her house for the room, no other reason. I can get by just fine in mine, I have been here nearly 17 years. no since in uprooting now.
pray that the money fairy visits me lol

[mary124]

I think I would wait and see what happens, which seems to me that is what you are going to do. I mean, I really don't know you so I can't tell you what do to, but you sound like your mind is made up. I would add on to my house since you have the room, you been there forever, but like you said you need the "money fairy" to visit you.

[traceann]

I will try to get a message directly to the money fairy for you, but she must be busy I have been waiting forever for her to come visit me, the only one that visits me lately is the Bills-to-be-paid-now fairy....sigh.....