Posted on: 12th Jan, 2010 09:18 am
Hi
I went on a mortgage with my mum when i was 18 years old. I thought it was a really god idea at the time, i am now 21 and in a serious relationship and soon want to move out and buy a house with my boyfriend, i really really do not want my mum to sell the house but i don't think she could afford it on her own, the only thing i can think of doing is searching around for a cheaper mortgage rate so she could maybe afford it.
Please try and help. really confused
I went on a mortgage with my mum when i was 18 years old. I thought it was a really god idea at the time, i am now 21 and in a serious relationship and soon want to move out and buy a house with my boyfriend, i really really do not want my mum to sell the house but i don't think she could afford it on her own, the only thing i can think of doing is searching around for a cheaper mortgage rate so she could maybe afford it.
Please try and help. really confused
well, guest, your thoughts are good...if you can obtain a cheaper interest rate for your mom, maybe it will work out for the best for both of you. you didn't cite your current rate, so we can't suggest much at this time. are you pretty certain she cannot afford the payments?
I agree with George... In this situation it would be most beneficial to know what your mother's interest rate is today before we can give any good advice. Also how much she makes annually and what her monthly expenses are.
