Long story-short parents are retards who ended up in financial crisis due to their lazy ways, being brutally naive and not really doing anything about it. For 10 years It has been like that and now they are about to lose the house since he owns money.

Father will be selling it on a high price, hoping somebody will buy it. If no buyer is found within 2 months the house is lost for half the price (the amount of the debt). Retard wants to sell it for double what he owns the bank so he can go being a rentcel for 2-3 years and then buy a new better property.

Cool plan but:

- I don't believe he will do anything within the next 2 years with the money, probably fail again as usual because: he is arrogant, doesn't really take opinion from anyone and is totally crap with money. For 10 years nothing has changed with him.

- The house as a property is highly desirable with it being situated in the town center, with how prices are now I highly doubt we will ever get a better situated house even if he manages to sell it for twice the debt.


So:

- Paying the debt is a total bargain for retaining the property in the current market.


Issue is:

- I don't have the money since my parents drained my earnings for those 10 years due to them being pricks and I having faith that they will recover financially. My woman has this opportunity to do so and suggested she covers the debt. Not really fond of this tbh.

But both want a place to buy of our own in the near future and getting this house is a good opportunity. Even if agree on her investing in the property my terms would be for my parent to GTFO. I would pay their rent if I have to tbh.

So not sure what to do:

1. Leave parents to lose the house to the bank or some retard with money.
2. Me and fiance buy the highly desirable property for a bargain, although fiance puts a bigger investment. Note: Father is an arrogant ass so our relationship between us may get worse, he will likely not accept that his ''kids'' are buying his property. Likely won't even want to leave if we buy it, would start gaslighting me with some family crap as usual. And before anyone says I'm a jerk to my parents, I have been financially taking care of them for the past 10 years and them being ungrateful at all.

Both ways they GTFO of the house.

I'm almost 99% sure if you get the house, your parents will still conveniently live in it.

If it looks as good as comparable investments, just invest with your wife (woman?) through attorneys, and let them use it in a trust while you own it. You formally pay and own half with your wife, and they do not risk losing it or selling it off when you invested for inheritance.

That's my biggest concern. Especially with how they drained me and my brother the last years financially. Give them a comfort zone and they will be like leeches.

I own a real estate brokerage in Florida and deal exclusively with properties in foreclosure around the state. You need to find out what the reinstatement amount is. Your dad has an equitable right of redemption all the way up to the end which means he can pay everything that is past due and the mortgage company has to go back to allowing him to make his normal monthly payments.

You might want to reinstate dad's loan and enter into a contract for deed which is basically a wraparound his mortgage. After 12 months, you can refinance a contract for deed getting your own mortgage without a down payment as the bank will treat that as your equity after 12 months.

What state is the property located? Is it a judicial foreclosure or non-judicial. What is the current status of the case?

Don’t do it. You’re gonna have to kick them out.

If it was someone else’s property and you could get it, get them out and not have any family drama, I’d say yes.

This will be a huge pain in your ass.