I am currently an undergrad. I live in a 5-room apartment with 2 siblings, parents and a grandmother. My parents have not been working for probably 5 years due to medical reasons. We are living on savings and help from the govt. In 3 mths time, their savings will dry up and the monthly payment of the house will be impossible. ($800 per mth). Moving into a smaller house does not help coz it will incur more debts due to housing prices and the amount unpaid for this current house. My siblings are studying too. If this problem is not solved, the govt will have to take back the house.We tried working part-time but its impossible to get $800 due to our studyload n the pathetic part-time pay. How? I am lost. I really have no idea what to do. We can negotiate about normal bills but when it comes to house, they always win. Pls help me.
2006-12-08 03:17:16 · 3 answers · asked by NeedHelpGivesHelp 2 in Business & Finance ➔ Renting & Real Estate
But a cheaper house anyway. It seems your only option. You will get more for your current house than what you paid for it, so you will walk away with a profit to put toward a cheaper house. Another option is for your parents to give all their assets to you kids and live off medicaid in an assisted living center.
2006-12-08 03:26:42 · answer #1 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
Wait a minute:
You and your family live in an apartment, but you are asking about the note on a house. Who lives in the house? Why arent you and your family in it?
2006-12-08 12:12:16 · answer #2 · answered by JC 7 · 0⤊ 0⤋
Either you or one of your siblings may have to temporarily quit school and get a full time job until the financial situation is better or until one of you graduates.
2006-12-08 12:08:13 · answer #3 · answered by DeeDee 6 · 0⤊ 0⤋