Archive for the ‘miracle’ tag
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Serious problems – financial or moral advice please?
Ok this is a bit of a long one, but I really need help with this one. Ok, here goes:
My mum is a property developer and my dad is a builder but has quite severe mental problems which means that he can’t leave the house and doesn’t trust a lot of people and therefore does not have a job. A few years back they bought their dream house which is in the middle of nowhere, no neighbours (which my dad loves). It was a shell when they bought it and my dad has been working at building an extension adding floors, new roof, windows doors, generally making it in to an amazing house that he plans to spend the rest of his life in.
He dreams of doing odd building projects for his mate who is a businessman, living off the land and staying in that house forever. My mum wants to get rich which is why she got in to the property developing business. She has four properties all with a mortgage, one being the dream house my dad lives in, two she is renting out and the rent just covers the mortgage rates, and the fourth she lives in herself since splitting with my dad.
Last year she was rushed to hospital with heart failure, now this wasn’t a clot that could be removed, this was something rare where her heart shrunk and would not pump. She was transferred to harefield hospital which is the specialist heart hospital. It was a miracle that she survived and now will be classed as disabled for the rest of her life.
Whilst in hospital in a critical condition she was still trying to sort out the finances for the house but she couldn’t keep it up and now she is in arrears on everything. They have increased all mortgages so she can’t afford to pay them, she now has loans and credit cards which she also cant pay. All houses have decreased in value. One is £10,000 negative equity. One would just break even. The one she lives in would make £20,000 if sold but she would then have no where to live. The only way she would get out of this mess is to sell the house my dad is in but she refuses to do it because a) it will leave him homeless b) he said he would refuse to leave, and c) she fears he will commit suicide. Now whether any of these things are true or not is irrelevant. She WILL NOT sell it and there is no persuading her otherwise. Plus at the moment she cannot sell any as they are all in arrears and soon they will all be up for repossession.
She is getting disability allowance from the government but this isn’t enough to cover it plus they are giving her even less because in there eyes she owns four properties so does not need the money. My dad would never seek help for his mental illness as he does not believe he has one.
The issue now is that my mum has asked me to put her house and my dads house in to my name, which would mean i take over the mortgages. This isn’t because she wants to pass the buck, it’s because she feels she can afford these two mortgages and by handing them to me it will also reduce the payments quite dramatically and she can then declare herself bankrupt and just concentrate on paying those. My concern is what happens if/when she can’t pay them, I certainly cannot afford to pay them myself, I will go in to arrears myself and I live with my partner and his which this will affect. My partner is also totally against this idea and we have already had numerous arguments about this. I fear he will leave me if I do this as his main concern is protecting the future of his child.
What do I do? Help my mum out and risk my own livelihood or sit back, comfortable and safe whilst watching my parents fall apart?
I can’t afford mortgages
The child is my partners not mine
Wealth & Pain Relief Miracle Drug Commercial
Parody infomercial for a fake miracle drug. Curalmine = Pain Relief + Wealth! Produced by Frank Katona June 2007
