Ranty family stuff. Have a young fistpunch in action.
I go away for 1 week...1 WEEK! and when I come back my mom has not only bought a house that’s waaaaay above her and her new husbands initial modest budget but needs a LOT of remodel work right off the bat.
And it gets better! In order to justify buying a house together they need to sell both of their homes...which they haven’t done. Not a huge problem except my mom can’t bear to part with her place so she is “selling” it to my brother who REALLY can’t afford it. I say selling it because she is going to be the flippin bank! You want more? Their loan term is going to be something like 40 years. My mom wont live 40 additional years. To say nothing of the fact she’s selling it to him for way below market value.
So to sum up:
- Brother is getting in way over his head against other sibs advice
- Mom is giving away tons of free money to just one sib
- While becoming a banker on a loan that outlives her
- While simultaneously getting in over her head on a house she doesn’t need
- That she already has big (expensive) plans to remodel
- While also trying to sell another home
I don’t see this going badly at all. do you?
It’s not even the worry I have of my brother defaulting (who knows what THAT would be like with bank of mom) or my mom getting in financial trouble...its what all this unnecessary stress will do to the family. I should restate...NO ONE NEEDS TO MOVE.
On the plus side I think I just sold my sportwagen winter wheels and tires. So...yeah.