Take care of your parents, they took care of you. Now if i could only get my kids to move out.

 

Your dad is 62 and I'm assuming your mom is around the same age and they still have a mortgage? Sounds like they need to downsize and get into something they can afford. They shouldn't be going into retirement while still making a house payment if they can't afford the payment on their retirement & social security income.

They're not going to be able to work forever, and it sounds like they are coming up quite a bit short on their mortgage payment, so that means that if you move in with them now, you'll likely be living with them until the day they die. I personally wouldn't want to be in that situation. I'd recommend that they cash in the equity on the house and get something smaller that they can pay cash for, or move into an affordable apartment or seniors community.

Good luck with your decision. I know it'll be a tough one.

 

If your parents are in a bad fix, you should for sure move back in there and help out. Cuz if you don't they might end up having to move in with you

Damn your kids 2 already

 

[QUOTE=mxt_77,Aug 6 2009, 05:41 AM] Your dad is 62 and I'm assuming your mom is around the same age and they still have a mortgage?

 

he doesn't have the $ for both

 

If times went bad for my folks, my dad is welcome to move right in with me. My mom? Not gonna happen.

 

Your mom can move in with me.

I like the idea of them selling their home to you and you move in with them. As they're no doubt thinking about their future and retire, perhaps this would also creat an opportunity for them to reinvest their equity that is released from the sale into a rental property or two that may generate long term income for them.

I think you're in for an awkward situation for an indefinite period of time but you do what you need to do for your parents.

 

I would do it to help my family out. They have always been there for me. Like others have already said, you need to have an exit plan. Sit down with your dad and mom and agree on a reasonable amount of time that you are going to help them pay for the mortgage. At the end of the that time, you can sit back down and see about either buying the home from them, or helping them find a smaller place for just the two of them.

I know a few couples who move back into their parents house for a "short" time, only have be stuck there for years. Not to mention the stress that it puts on their marriage. Once friend is about read to file for divorce.

Keep your head about you, have a open communication with your wife and you should be good to go bro. Good luck and keep us posted!

 

I feel for you. I'd move my parents in in a second.....that being said, it may not be as easy for your wife. Still in the current situation it's the best option. Maybe if there is an economic upswing you can move out again.

Plus, I don't know how well your wife cooks, but I'm sure your mom can cook some good food..YUM!

 

NO. I definately would not even consider this not even for one second, but everyone is different you have to make the choice that is best for you and your family (your wife and kid).

Make sure you let your wife have some input on this decision, it could very well be the last decision you make as a couple.