Aged mothers mortgage

housebuyer143

Keep_pedalling said:

Bianchiintenso said:

housebuyer143 said:

Bianchiintenso said:

Grumpy_chap said:

elsien said:

As per the previous post by the OP, it appears that the children have no clue that he was a part owner in the property.  And it sounds as if the OP's mother had either not understood the implications following his death or has done an ostrich impression until mortgage rates rose to the point it has started making life difficult for her.  

Ah, yes, I had missed / crossed with that:

Bianchiintenso said:

knowing the dysfunctional family and their financial background, it's too long a shot unfortunate. There's only one reasonable member, I have thought of contacting her, but it's a can of worms I want to avoid until the last possible minute, so that my mother can live in her home for as long as possible.

Whatever the problems might be, I can't see that failing to even advise the children about their Father's death will supports any eventual compassion / leniency from their side.

@elsia
exactly right 
@Grumpy chap
as I said in previous post, in this case doing nothing until absolutely necessary is probably the right thing to do for my mothers mental health and peace of mind as she's not in the best of health

I actually think this might be the best thing. It will be a huge headache for you when she does die, as if you are the executor you will have a large mess to unwind but while they are in the dark and she is paying the mortgage it seems the status quo will carry on. 
I would never ever expect anyone to give up inheritance out of the goddess of their heart so definitely don't even attempt it. 
If your mother lives another 8 years then would the bank would reposses a 94 year old? Might be different options when the time comes. 

Thanks Housebuyer, it is a big mess, but you're right I think any actions at this moment will make matters even worse

I am not so sure about that, what happens after the mortgage term expires and £55k needs to be found to pay off the mortgage (I am assuming that this is an interest only mortgage), she can’t do that through equity release unless she is the sole owner and selling the property will be very difficult indeed with this complication in place. 

 At the moment it seems their share of equity is about £35k so if there is any way you buy them out now the future is going to be much easier. 

She will be 94... As bad as it sounds she might not even make it to that? 
If she does, then cross that bridge then. The OP really appears to be out of good options unless they have enough to pay off the mortgage just lying around. 

Keep_pedalling

housebuyer143 said:

PKeep_pedalling said:

Bianchiintenso said:

housebuyer143 said:

Bianchiintenso said:

Grumpy_chap said:

elsien said:

As per the previous post by the OP, it appears that the children have no clue that he was a part owner in the property.  And it sounds as if the OP's mother had either not understood the implications following his death or has done an ostrich impression until mortgage rates rose to the point it has started making life difficult for her.  

Ah, yes, I had missed / crossed with that:

Bianchiintenso said:

knowing the dysfunctional family and their financial background, it's too long a shot unfortunate. There's only one reasonable member, I have thought of contacting her, but it's a can of worms I want to avoid until the last possible minute, so that my mother can live in her home for as long as possible.

Whatever the problems might be, I can't see that failing to even advise the children about their Father's death will supports any eventual compassion / leniency from their side.

@elsia
exactly right 
@Grumpy chap
as I said in previous post, in this case doing nothing until absolutely necessary is probably the right thing to do for my mothers mental health and peace of mind as she's not in the best of health

I actually think this might be the best thing. It will be a huge headache for you when she does die, as if you are the executor you will have a large mess to unwind but while they are in the dark and she is paying the mortgage it seems the status quo will carry on. 
I would never ever expect anyone to give up inheritance out of the goddess of their heart so definitely don't even attempt it. 
If your mother lives another 8 years then would the bank would reposses a 94 year old? Might be different options when the time comes. 

Thanks Housebuyer, it is a big mess, but you're right I think any actions at this moment will make matters even worse

I am not so sure about that, what happens after the mortgage term expires and £55k needs to be found to pay off the mortgage (I am assuming that this is an interest only mortgage), she can’t do that through equity release unless she is the sole owner and selling the property will be very difficult indeed with this complication in place. 

 At the moment it seems their share of equity is about £35k so if there is any way you buy them out now the future is going to be much easier. 

She will be 94... As bad as it sounds she might not even make it to that? 
If she does, then cross there bridge then. The OP really appears to be out of good options unless they have enough to pay off the mortgage just lying around. 

Paying off the mortgage would be a mistake, as that increases the amount of equity her partner’s children would eventually get. What a mess. 

I wonder what happed to the money that was borrowed? 

Bianchiintenso

Yes I agree re paying off mortgage, the information that  I have is that it was used on holidays and paying off debts for them selves and one of the children. As bad as it sounds I am getting to the point of wanting to bury my head in the sand as well. There is no solution other than to let time take its course and trying to get her through this