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How can I find someone to buy my home and rent it back to me?
Okay let me rephrase that, How can I find someone to buy my Parent's home and rent it back to them?
First introduction, Hi I'm 19 years old. I work as a Cashier and make less than $150 a week. kthx.
Now here is the situation, my parents both own a company -chimney sweep-, it gets insanely busy in winter and work doesn't even exist spring-summer. Now in 2010 my dad decided to leave my mom for another woman, all well and good. We all agreed we'd still work together/be civil... Mom works for him and we call the mortgage "spousal support", it's not official support because my parents aren't officially divorced.
So for the past 2 summers, this summer and last, we've hit default and even foreclosure. The last time we got lucky that 21st decided to work with us. This time we do not have that luxury! I grew up in this house, I LOVE this place. It's humble yes, but to me it's the most beautiful place in the world. I pictured I"d grow up and move from it to my own place. But I have no savings because my dad spent it all when I was younger. Then when I asked about it I just got the reply of "Let's call it rent." We also can't afford to eat anything other than raw noodles. and some how we do not qualify for food stamps. Because we "make too much money." I do not understand how we make too much yet can't even pay our bills!
I switched to home-school education in the 3rd grade and because I've had average grades and my dad felt that any extra electives were a waste of money, I do not qualify for any sort of scholarship and I have no real talents. So I plan on becoming a nurse and supporting myself through anything education wise I ever wanted to learn through hardcore budgeting and tight living. BUT I sign up for nursing classes because I have no money saved, thanks dad, and now the house is set to go into foreclosure because we are 2 months late. and we were told if you default twice in the same year they can foreclose so that's what they are gonna try to do. So please tell me how to find someone who is willing to buy this place and let us rent it? We do not have friends who are "well off" or we would have asked one of them. My mom will also go mentally bat **** crazy if this place forecloses, and leave me to take care of myself. I haven't even had the chance to launch myself due to all this crap my dad started.
P.S we used to have work in the summer but ever since he left mom people just won't work with him anymore, even one guy went so far to say "If he'll do that to his wife, he'd likely just swindle me outta my money." This has just set me back a ton... Really I need help in so many ways but I'll start with the house. I seriously need someone to just buy the place and do a "rent to own" for us. Is there any sort of system we could get something like that? it doesn't exactly have to be THAT it just has to be were we can remain here. I know I sound spoiled and I'm sorry... I'm just very scared right now. And I'm sorry for such a long question.
Read the damn thing people, I do not pay the bills here. Cept Car insurance and a bad attempt to save up for my education.
Secondly No one will hire full time, are you people blind? It's called bad-economy.
Thirdly, learn to read. If you ain't gonna read then don't answer you're being a point whore.
Fourthly, see above. My dad took my life savings.
10 Answers
- LandlordLv 79 years agoFavorite Answer
You will not find anyone with money who is that dumb. Anyone thatt dumb is not going to have any money.
If you mother can't pay the mortgage now she is not going to be able to pay it as rent.
- CecesanLv 79 years ago
Instead of looking for someone to buy your house, why don't you be the landlady and rent out the rooms to individual renters. That way you can still keep a room and look after the house. It's easier to break the rent to a couple of room renters than someone to rent or buy the whole house and sub-let to you. Or you can put out a lease like for 2 - 5 years lease out your whole house then you go rent a room somewhere. Or you can refinance the house at a cheaper interest rate and use the money to pay off your existing mortgage. The new mortgage you can extend the repayment of the loan to a longer term period and bring down your monthly mortgage payment. I think you find these options doable than have someone buy over your property then rent it out to you which in the end you may lose your property if the new owner decide to kick you out, and dont forget you still have your dad who wants and will fight for his share of the selling price of the house
- bdancer222Lv 79 years ago
Didn't read this long tale. All the personal drama really makes no difference.
If you only make $150 per week, you don't make enough money to rent anything. No one is going to bail out your parent's foreclosed house and then rent to you for less than what the mortgage costs them.
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- ?Lv 69 years ago
Why has neither or your parents thought about getting different contract jobs during the summer, surely they would be able to something else (clean air conditioning vents) or even something else altogether.
Sounds like you are all pretty much stuck in ruts
- ?Lv 79 years ago
You are 19.
I was on my own at that age. Get a full time job, and fly the coop.
Your mom can get a very cheap apartment.
Plus, rent to own is one of the biggest scams out there.
Go to night school on federal student loans and grants.
- Anonymous5 years ago
As Pit R said, work would be an optimal choice, what, you weren't going to rob little old ladies, were you?
- Anonymous9 years ago
Too long didn't read more than the title. Find some stupid people. You can convince them of anything