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Oh my goodness!!

post #1 of 7
Thread Starter 
This may be the break I've been looking for..

My hubby and I have wanted a house for a while now- but theres so much red tape to go through to get a mortgage- down payment we don't have etc. Well I was talking to my sister-in-laws ex boyfriend last night and he wants to move back out west now that they are split up. (shes in a new relationship- no chance of reconciliation)

Anyways, he bought a house just down the street from where I live when they moved here. He wants to leave, but will be saddled with the financial burden of this mortgaged house. I'm consdiering talking to him about either renting to own it, or assuming his mortgage under our name.

This neighborhood is awesome, we love it here. We love the house we're in, but I don't think we'll ever be able to buy it because its been in my landlords family for many generations and I think he wants to pass it on to his son when hes older.

This would mean finally having a place of my own- and being able to have the animals I want, without asking anyones permission.

What do you all think? Anybody know whats involved in assuming a mortgage?

I'm so excited.....
post #2 of 7
post #3 of 7
Good luck and check out this website.

post #4 of 7
That's awesome, I wish I could afford a house!
post #5 of 7
Sounds like a great opportunity. I would think that assuming the mortgage, if you can swing it, is a much better option than renting from a family member's ex bf. Those things can get kind of messy sometimes. But either way, if its a great house in a great neighbourhood, go for it!
post #6 of 7
Thread Starter 
Houses here are fairly cheap- This man paid very little for the house, and has spent the last year doing major renovations (he owns a renovation company)Hes replaced the roof, floors etc..

So basically I'd get the house very cheap, and in amazing shape, And its another big Victorian! My favorite!!!

Hes remained a very close friend of ours even after the breakup- but anything done will be done legally. I have self preservation always in mind
post #7 of 7
That's terrific! I hope you get it Melissa.
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