Letting it go to forclosure??

[Tinkar]

Here's my pickle. Please understand that I am NOT a financial guru and pretty much only understand the basics.


Simply put, I want my older mother to move in with my wife and I. For her sake and for our upcomming babys. She lives on her own not making very much and BARELY squeeking by. She has a TON of debt from mulipule sources. Enough to take money out of her bank account as soon as it's put in.

She lives in a mobile home that was worth 28k and still owes 8k on it.

What do we do? She needs to move in within 2 months for our sake and hers. How do we do this so she can start collecting more money to pay these debts off?

I hope that makes sense. Thank you

[LivingAlmostLarge]

Are you even sure your wife will be able to put up with your mom? I ask because in September a friend of mine had her MIL move in with them in 11/15/08 and by 12/5/08 the MIL was KICKED out! So what if they have to pay $2k/month childcare.

She couldn't take it. BEST intentions sometimes don't work out.

[Joan.of.the.Arch]

Letting what go to foreclosure? Are you asking about trying to get your MIL to stop payments on her mobile home? I don't see any reason why she should do that. If she wants to move in with you, and if she can sell the MH for $28,000, then she should do so and pay the remaining $8,000 that she owes. But you say it "was" worth $28,000. When was that? What is it worth now?

How do you expect her moving in with you to help her? How do you expect it to help you? I'm not clear about what you are saying or asking.

Maybe if she moves in with you, she can rent out the mobile home to someone else. Does she pay a rental fee for the lot her home is one, or does she own a lot for it?

[disneysteve]

I'm not clear about what you are saying or asking.

Make that 2 of us.

Can she not sell the trailer, use the proceeds to pay off the balance of the loan and use the rest to pay off her other debts?

[blankcheck]

Two questions, and the first one (What foreclosure? Why not just sell the mobile home?) was already asked.

The second question: what do YOUR upcoming babies have to do with her? Is this just something you expect to work out for all sides? Are you paying her to babysit? Are you paying down her debts? I'm not seeing the connection.