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Old 02-18-2020, 05:34 PM
standing on the sidelines standing on the sidelines is offline
Senior Member
Join Date: Dec 2006
Location: Kitchener Ontario
Posts: 5,640
standing on the sidelines is on a distinguished road

we get it, you love where you live and it does sound like a really nice place that lots would love to live. You are not getting that it isn't realistic to stay there. Yes you may be able to look after yourself now but that can change in a heartbeat. You cannot afford to have a big issue fixed that needs to be fixed. Yes you may not use that room but the weight of the house is still on that foundation and the beams, it will get worse and then cost more to fix.

If you could afford the place on just what you make (without SS) then we would be saying go for it but you can't. You could get injured and not be able to work anymore so there would go that source of income.

I totally get the mortgage payment is less then rent. I was in the same boat when I was splitting up with my ex. The mortgage payments were about 600 and about 200 a month for taxes. A one bedroom apartment goes for more then that. I managed to get a mortgage on my own, based on only my income. I will admit that it was tough till I got the job that I have now. I was in my 40s when I bought him out so I still have a few more years till retirement.

If I remember correctly you cannot touch anything that he has/will inherit when his father passes.

You are not even factoring in legal fees that you may have to pay in order to settle your situation. That can wipe you out right there. Do yourself a huge favour and sit down with someone who has some knowledge and figure out what you can do. The house is old, as it ages the repairs get to be more and more frequent and costly.

The future is never certain. Yes you could be healthy and injuring free and live till you are in your 80s. Or you could get injured doing one of your activities and never work again.

If you cannot get the mortgage approval that you need then the house will be sold. You need to accept that no matter how heartbreaking it may be. The bank wont care that the mortgage payment is less than rent you would pay elsewhere. All they care about is the house the mortgage is for and your ability to pay for it. They deal with numbers and that is it.

While I understand you want to live there, you are not understanding that it does not look like a realistic outcome for you. You are letting your emotions blind you to the cold reality.
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