20 years ago I bought my mothers house as she was widowed and couldn't afford it anymore. A few years ago I remortgaged it for 100k valued c160/170k.
I sacrificed a home of my own to look after my elderly parent, no grudges but didn't ever expect to be thrown under a bus like we have.
I have been out of work since lockdown began in March. No income, no government help, even turned down to UC because I have 17k savings which are of course my due taxes. Living on credit cards but unable to pay those bills as of February.
I now need to consider bankruptcy.
Is there anyway I can protect my mums home?
Should I try to put it in a family trust?
Try to sell it back to her - she's over 80? She can cover the mortgage with her income now.
The idea of 30 years of paying over a million in taxes and now it's come to this, no home of my own at 50 and maybe making my severely disabled mother homeless at 83. I don't know how to find a way out.
Can anyone help with ideas?
I sacrificed a home of my own to look after my elderly parent, no grudges but didn't ever expect to be thrown under a bus like we have.
I have been out of work since lockdown began in March. No income, no government help, even turned down to UC because I have 17k savings which are of course my due taxes. Living on credit cards but unable to pay those bills as of February.
I now need to consider bankruptcy.
Is there anyway I can protect my mums home?
Should I try to put it in a family trust?
Try to sell it back to her - she's over 80? She can cover the mortgage with her income now.
The idea of 30 years of paying over a million in taxes and now it's come to this, no home of my own at 50 and maybe making my severely disabled mother homeless at 83. I don't know how to find a way out.
Can anyone help with ideas?
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