Would rather sell his mum's house and make her homeless, than sell his own ‘My life is being shattered’
I think its more than that - but the issue is, when they sold their house together for 1.6 mil, why didn't they pay of the mortgage on the mums house then? Cheers, Inertia.
$1M windfall in equity and he is blaming the broker for the loan structure to allow the purchase? Terrible angle/journalism.
@Noobieboy They're complaining that they upgraded their home with their windfall money rather than reducing the debt on their Mum's house. They're also complaining that the ex-wife is a heartless cow and wants half the Mum's house. It seems to be the brokers fault.
Its always seems to be someone elses fault these days @Jess Peletier We have become a finger pointing society.
No she just wants half of the house they bought and lived in together, but he is thinking about selling his mum's house so he doesn't have to take out a loan to provide what is rightfully hers.
Confusing article. Sounds like the broker, allegedly, talked them into buying the mum's house and renting it back to mum.
And the deposit was a gift from the ex-wife's parents. And his mother gifted the profits to them! All very shonky. And now this poor old lady has to live with him - and we're not sure why the wife left ... an idiot with money? violence? or both?
So the guy and his wife has two loans, one on their upgraded house and one on his mom's place. The wife left and want half of the house, which is her legal entitlement anyway, and to avoid selling the house, he got his mom to sell hers instead and move in with him and provide (possibly free) babysitting? Really?
It wasn't really his mum's house. it was his house, purchased from her, which she was renting from him. Wonder where the proceeds from the sale of mum's house went? Mum should be the one talking to the lawyers.
@Terry_w you are right, it was mentioned that he charged her a nominal value for rent, I found that a bit suspicious.
He does not get a choice. the house has to go due to the mortgage agreement. His Mum should have said no and this whole sorry affair never would have happened. He could have chosen to rent instead with his wife. I do feel compassion for them but this could have been avoided and blaming the mortgage broker is far too simplistic.
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