What would you think or say to a daughter in law that is buying a house for $500,000;?
355581
Sounds to me like the message, loud and clear, is to back off and give the married couple some space.  And if you want your son to have a happy marriage, I think you should listen.
821069
For now, all I think that you can do is RENT the HOUSE. At least rent it out for the mortgage payment. Call the Real Estate Agent,and tell him. See what your "contract" allows. There are some Real Estate Companies that offer to buy the house if they can't sell it in 3-months! At least we have that in Canada. Make sure that when things settle down, that you take legal action against your EX - in Civil Court. There are many Lawyers that will take your case, and not Charge you until the end result! Look into that. I am so sorry about what happened to your little girl. Are you getting some help for her? I hope so. I bet your kicking yourself, once again I tell young people, to go slow, in relationships, especially where there are children involved. One Never Knows. Possibly, you could speak to your bank and see about "bridge financing" - if you qualify, the Mortgage would be paid, through Bridge Financing, and when the House is sold, the Mortgage Company gets their money first. The Lawyer, who closed, all costs, and the leftovers (if there is any) go to you. That is about  as much as I know you could try. Good Luck, and God Keep you and your Children SAFE. Maybe I am the first, Merry Christmas, and a Happy and Prosperous New Year.
64873
No offense, but I think your "sister-in-law" should think of something else. Because if she doesn't make it, will she have a back-up plan?
1084164
first of all what can you do to make up with him or can you make up with him and if you can i would try that first and foremost but if not then lets just say that  for one do you have a statement with the father in law agreeing  that he was going to sell the house to you at a good price and two do you have all the receipts from fixing up your house and did you already sell it.  those would all be good things to have and if you didnt sell the house i would just live in it till you can find another deal that some one cant back out on.  but if you did sell the house and you have all those documents yes you can very well sue him and i wouldn't worry about the relationship with him cause he already put you in a financial bind.  if you don't have the reciepts and a document stating the agreement then you better get a really good lawyer so that atleast you can have the money reimburst from fixing up your house either way get the good lawyer if you plan on taking him to court.  but ask yourself first is the money your going to have to spend and all the heartache the family is going to be put through worth it.
667306
Why not actually move into one of the units.  Then you are completely above board (though the *wink*wink* will probably work ok too).  \n\nAs to how to do it, there is no best answer, it depends on your situation.  \n\nThe route I would follow is, find out first off how much money you will need.  Be sure to budget for closing costs, fixup, etc; and be sure to ask several banks/ brokers to get the best number.  \n\nNow, just figure out how you can get that money at the cheapest cost to you.  If you have the money, great.  If you can take out a 2nd cheaply and get it, do that.  If you need to refinance, do it.  I'd make sure I had the money (or at least a plan for how I would get it) before putting down a contract though thats not required.  Of course make sure the contract has a financing contingency, and a general contingency it the seller will allow it (a general contingency like "contract is contingent upon approval of spouse" - if you get this is there are decide later you don't want the place, shouldn't be to hard to have the spousal contingency fail).\n\nI guess the easiest way to put this is, figure out exactly what you want (a 2nd 2 family), exactly what you will need to get it (x dollars, plus y hours of time, etc) and then do whatever you need to do to reach your goal with the minimum cost and time loss to you.  I realize this is a general statement but without knowing more about you I can't make it more specific.\n\nAlso, I always hated even bending the law even in the really minor way you describe (though I did it a few times) fearing it would come back to haunt me someday.  I got lucky and it never really did hurt me much, and now I'm totally above board.  I'm not suggesting you not do the *wink*wink*, just that you avoid that as much as possible.\n\nBest luck.  Also, by the way, there was an extremely active foreclosure specialist in my area who just got caught with something like 120 properities in her name, all of which she had bought as an owner-occupant.  I guess if she can get away with it 119 times (plus the 100's she sold over the years), you can get away with it once.
957424
From the information you give, you can't prove that it is a bad idea.  Don't get me wrong, you are probably right - but only probably.  Furthermore, home ownership has many benefits that don't show up in a cash flow statement right away.  If she can really make it work, with a stable loan payment and everything (fully amortized and with the rate fixed for at least five years), chances are that she'll come out way ahead.\n\nWhen you first buy, owning is more expensive than renting.  If it isn't, why didn't you buy earlier?  If she can barely make it work renting, chances are against her.  Principal and interest on the loan - rates for people with good credit are in the high fives to low sixes right now (thirty fixed), depending upon how much you pay in points.  Take the loan amount and any financial calculator will tell you how much that payment will be.  Property taxes (every state is different.  Call the county tax collector).  Homeowner's insurance (ask an insurance agent).  Association dues, if any.  Utilities will be about what she;s paying now if the properties are of similar type, but she'll need a  Monthly allowance for maintenance - she'll need to build up a reserve because this stuff happens.  How much do people spend in your area?  If you're a property owner, you should know.  Not to mention all the money most people blow on home furnishings when they first move in.
410338
Is she about to go into foreclosure? If so I can help contact me at wshusa@chrisblanks.com put wshusa in subject.
698950
i currently work in loans at a bank, and along with her mortgage she can also get a home equity if she has equity in her home, buying for less than the property value, also need to check for covenants to add on to her home, there are lots of options out there, maybe she needs to get a second opinion from another bank not involved if the current one doesn't want to help. good luck!
179146
Why did she do that?  It must have been a beautiful house.  I used to be in the business . . . and it is a good way to make a living . . . but thing is . . . once you get out . . . it is better to stay out.\n\nI've been out of the business for almost 18 years.  It is good to get yourself established, pay for schooling, etc . . . but for raising a child . . . no . . . especially school age.\n\nI agree with you . . . she should sell the house . . . hopefully for a profit . . . but with the market . . . who knows.  With the money Profit . . . get an apartment or a condo . . . and after a year or two is selling real estate . . invest in some investment property.  Then parlay that in to a home . . . \n\nShe is already out of the business . . . please encourage her to find alternative methods.  She could do it . . . because if she was able to get this far . . . it will take a little more work to maintain it.  I know it is difficult . . . but I know she could do it.
559357
She would probably have to pay more to live somewhere else, but she is not being very wise if she doesn't have any credit in her own name. She owes it to her children to make sure they have financial security. If she intends to stay with this man, encourage her to get married so that she will have more rights in case something happens to him.
191244
You need to give more detail for a good answer.\n\n1)  Are you getting married?  What state are you in?  The property?\n\n2)  What are you using to purchase the property (your money? her money? parents money?)\n\n3)  If financing, who is taking the loan?  With what collateral?  Who is paying it off?  With what?\n\n4)  What form of title?  Joint Tenants?  Tenants in common?\n\n5)  Why the hell would you want to put your in-laws on the title?\n\n... and so on.\n\nIf you bought it today with your own money and put three other names on the title, you could still have a case to get 100%.  However, it may be determined a gift to the others and you would get only a percentage, and a whole lot of other variables depending on the other details may affect that.
796396
Tricky, I think its bad judgement especially because of what she told you about gold digging, but at the same time she's living.  Shes a grown 50 year old woman with lots of experience in life and I'm sure she's more than aware of the consequences of the decision she made.  I wouldnt be concerned, but like you said, shocked and taken back.Maybe he's the type of guy who doesnt take no for an answer and she felt forced into taking the money...who knows
662922
tell mom-in-law to do things your way in your home or hit the highway...[its your life] make your own choices..
460289
Does the current wife own the house? If yes then of course, if he's the owner then he'll have to give her permission, but of course can still be done.  The state would only be able to collect what was owed, and since he was up to date that wouldn't be much that he's behind.
858149
Dear John, \n\n     (new husband) and I would like to thank you for the money you gave us for our wedding.  We can't wait to use it to help buy our new (house, bedroom suite, table, couch-something, make somehting up if you wanna).  We really appreciate your thinking of us at this special time.  Thanks again!\n\nlove, (you)
601118
Ask your wife what she thinks when your In-laws "let down" on you.  This should open a conversation that will allow you to tell her how you feel as well.  She should understands why you are not at the same financial level as her older siblings.  Work together making your financial goals.  Check the progress often together.  She can set her parents straight if that's needed.  No one likes to be put down and should they keep up this behavior, I would make the contacts with them as minimal as possible.  (The natural consequences for people who are jerks...no one wants to be around them.)   Hope this helps!
559138
Definitely try to negotiate the price.  If they are not willing to negotiate on the base purchase price they will most likely be willing to negotiate the costs of extras.  And when it comes to tract homes, "everything" is extra.