My brother has taken our parents money!!

Sarahjovi

What happens if your parents pass away before the mortgage is paid! Will it get paid off or will you have to carry on paying it!

I find it hard to believe a bank would give a mortgage to elderly people without a guarantor????? Did your brother stand as Garantor?

(Sorry I don't know much about financial issues, perhaps someone on the mortgage board could help!)

Sarah

belfastgirl23

Okay you won't like this probably but I'm speaking from experience.

In this situation you have two choices. One choice is to live with it and not grumble. The other choice is to say no. And keep saying no. However uncomfortable it gets. However much people try to lay on the guilt about your parents. However much you feel guilty yourself. Your parents have made their choices despite the warnings you gave them. You need to let them figure out their own way out from this. You are in a double bind, either you p*** them off because you are causing family friction or you p*** them off because you aren't doing enough for them. So go with whichever one feels less bad to you.

I was close to someone in a similar situation and used to be horrified by her behaviour which seemed pretty callous to me. But in the situations where I persuaded her to give in a bit her family went on to take such liberties that in the end I had to admit that her 'no no no' stance was the right one in the end up.

I hope you get it sorted out.

rose28454

Sarahjovi wrote: »

What happens if your parents pass away before the mortgage is paid! Will it get paid off or will you have to carry on paying it!

I find it hard to believe a bank would give a mortgage to elderly people without a guarantor????? Did your brother stand as Garantor?

(Sorry I don't know much about financial issues, perhaps someone on the mortgage board could help!)

Sarah

When my parents die the mortgage will still exist ( unless they live to 120!!) and it will be paid off by selling the house and then presumambly the money will be divided 5 ways ( However unfair that is!!). I dont know how my brother arranged the mortgage and I am sure he did not act as guarantor. I beleive what they have is a non status mortgage which means you can be as old as poor as you like when you take it out because they know they will be repaid when you die. Thanks for your input. Perhaps someone on the mortgage board could advise.