Im after a bit of advice serious answers please?

Question

My mother died in January and left the house to me and my brother,there is no mortgage on the house and nothing in loans on the house.He has no kids and no family left only me,he as a good job and is financialy secure.Me on the other hand have 5 children Ihave to pay rent on my house and have quite a good job.Every time i ask him if he can sort a mortgage out for half the value of the house he keeps fobbing me off,what should i do to hurry him along as im struggling to pay my bills ,and xmas is just round the corner

Answer 1

you need to talk to him face to face and explain that the reason you keep asking and bringing this up is because your not doing so well lately and really need the money. Than set a date in your mind and ask him if its possible to have this sorted out by this date. if he doesnt agree and still have no answers for you than i believe you need to start taking controll of the situation yourself and say that your going to handle this instead. why put it in his hands, it was your mother too.

Answer 2

For a quick fix, have you considered renting the property? If you can determine what a fair value for the property and what similar properties rent for in your area, then pay half to your brother and half to yourself. This is only a short fix because it will still leave the both of you owning the property.
To sell the property, first get an appraisal of the property's value and, once agreed upon, divide the figure in half, offer your brother a first mortgage at the going percentage rate for his half ownership. Show him the figures. I don"t know the house's value but let me give a hypothetical:

House value $150,000
Half value $75,000
15 year mortgage estimated payment to your brother would be, say, $700 a month for 15 years ($8,400 per year x 15 years = $126,000.

On the other hand, if your brother took the $75,000 (which would probably reduced by selling due to real estate agent fees, closing fees, etc.) and invested it at the average rate of, say, 6% he would receive interest accrual of only $4,500 per year compared to $8,400. So, unless your brother is an investment wunderkind, he's not likely to get a better return on his money.

Good luck!

Answer 3

If the house is paid off there is no mortgage, no debt. That's great. Are you talking about a home equity loan? Instead of a loan, see if you can rent/lease the house, so both of you can have income instead of servicing a debt. Once you take out a home equity he'll also be liable for it, he's part owner of the house and that's why he might be 'fobbing you off.' After Xmas you'll still servicing the debt - paying off/down the home equity loan. If you rent/lease, after Xmas you'll be receiving income for quite a while and have money for many more Xmas's

Answer 4

Suggest renting the house out until you can sort out a sale this will bring you in some revenue to pay those bills, its always best to be honest with family about your situation if your struggling. Also you are lucky to have five children but don't be pressured into giving them everything they want for Christmas it's just too commercial now think of something cheap and different to give them.

Answer 5

Hi Paul. I am sorry for your loss. Similar circumstances, but on a bigger scale. First and foremost communication, no matter how difficult is the key. I can so relate to your predicament mate, but you also need to decide what is of utmost importance to you and prioritise them. Christmas is only as important as you make it or for that matter as materialistic as you make it!!!!! If you had a good solid close bond with your mam, and your brother, then your brother will more than understand your situation and the problems that are arising from it all. Maybe your brother has concerns or problems of his own? But how will either of you know unless you talk to each other? What do you know in your heart, that your mam would have done in this situation, that would have appeased both of you and made it fair? She already done the right thing. Do you not think your mam trusted you both and your bond, to sort it out fair and square? You only get one family and you only get one chance, Christmas comes every year Paul. Please talk to your brother and your family, trust your instincts and respect your mam's memory in all your communication about the matter. Every thing happens for a reason despite not knowing or believing at the time. I hope this helps mate, and every thing works out for you all the way it should be. Take care and let us know how you and your bro get on.

Answer 6

Get to a solicitor asp, did your mom leave a will, if so then he has to get his priorities sorted out and see that you are entitled to your share and things need to be moving along now, he probably thinks because hes so financially secure he can play games, he can't if he has to the solicitor will sort out the house for you both and neither of you will have a say in the matter, sit your brother down and talk to him as soon as you can and if he still fobs you off then tell him you intend seeing your solicitor and will leave everything up to the solicitor to sort out, that should get him moving.

Answer 7

Talk to your brother and explain to him how you feel.
You must both go to a solicitor who will explaine what you both have
to do.Make an appointment for you both and tell your brother.
Also is this house big enogh for you and your familey do you wish to
live in that area . You should consider all these things first.
And why dose he have to sort you a morgage out You should
by now Know what the value is of what your half should be
if not get it valued and go from there.

Answer 8

The thing is, you don't know if your brother has other things on his mind, maybe he's still grieving for your mother, death affects different people in different ways. Just cos you are struggling doesn't mean he has to jump when you ask him. You didn't have the house this time last year, so it's not as though christmas is any different to how it would've been if your mother was still alive. Tell your brother how you're struggling, but ultimately you chose to have five kids, deal with it!

Answer 9

If your mother hadn't died in Jan, you wouldn't have the prospect of money. You'd still have 5 Kids (who has that many kids now a days???) bills and rent to pay.

Im with your brother, maybe he is still grieving and wants to hang on to the house a bit longer as a way of keeping a tangible connection to his mother.

You on the other hand....

Answer 10

Sit down and explain your situation to him. If he is a GOOD brother he will want to help you. On the other hand, if he is anything like my family then hire a lawyer because a judge will see your situation as something that matters. It's just like in a divorce. The woman normally gets the house and her car because she has children to take care of. Children are important. Hope this helps.

Answer 11

Well you have tried to do it nicely havent you!
Now you will have to do it through a solicitor, find out who is the executor of the will, (probably the solicitor that handled the will)?
Get all the details from him, or go to the Citizens advice bureau, and ask there.
Or pin your Brothe down by the neck if really required and yell some sense into him!!
Good luck with any of the above!!