Updated about 6 years ago on . Most recent reply
Mortgage default question
My partner's father has lost his retirement income due to the stock market crash, he is now planning to default on the mortgage. He is asking if we would be interested in taking over his mortgage by placing my partners name on the deed. Well, that's fine and all but his mortgage is quite high, we are still starting out so not necessarilyin a position to over leverage ourselves. My question for the forums is, are there other ways to tackle this besides just placing him on the deed and taking over the mortgage? I feel like I have heard on the podcasts of people taking on peoples mortgages and I can't remember the exact strategies used. Any and all help is greatly appreciated!!