My parents are going to lose their house! - Designer Handbag & Purse Chat.. The Bag Forum

boysRsmelly · April 19th, 2007, 07:10 PM

I'm sorry... I've been kinda complain-y lately. I just can't tell people about these things... but they are so horrible that I feel like I have to tell someone.
My grandma's husband said something to my grandma and somehow convinced her to sign power of attorney over to him (instead of the poa being my dad). My dad's grandfather had left him some money in sort of a trust fund type thing... it was supposed to be so my dad could pay off their house when it came time for him to retire. Well, somewhere along the line this money was moved to a credit union account that has my grandma's name on it. There isn't anything in writing anywhere... so basically my dad is now screwed because he isn't her poa anymore. The money is going to be used to pay for her nursing home. My parents will have to sell their house now... otherwise my dad would have to work until he was 80!
Remember when I said my mom was acting weird and being "nice" to my grandma... well apparently, this was the money she was after. I had no clue they were going to rely on this money for their retirement! Haven't they ever heard of a 401k? Sheesh!

purse-aholic* · April 19th, 2007, 08:11 PM

well, that sucks that your parents were relying on that money to pay off their house. but maybe it will all work out because if they sell their house, they can use the equity to pay off a less expensive house and therefore, lower their payments. and aren't alot of poeple downsizing anyway? my parents are going through a divorce and my dad cant wait to get rid of his big house because it is only him and my brother that live there and they just dont need all of the extra room. so, it might not be such a bad thing. but it does suck that they were relying on that money all of this time to pay off their house and now they are forced to change their lives around. sorry to hear that...

boysRsmelly · April 20th, 2007, 06:36 AM

Yeah... it does suck.

They are going to try to find a cheaper house somewhere... unfortunately that means it will probably need a lot of work done to it because of the price range they are going to have to look for. Most houses that cheap are "fixer-uppers". LOL! But I doubt my parents would have a lot of money to do any serious remodeling right away.
I'm just finding all of this stuff out now... apparently this money that was left to my dad was "the plan" since 1989. They never told me any of this... sheesh, it's nothing but secrets when it comes to them! And they wonder why I'm so pissed at them all the time...

Oh well... all the more reason for me to finish college, huh?

VivaLaJuicy · April 20th, 2007, 03:49 PM

I'm sorry to hear such bad news BRS.... I hope things get better, somehow.

April 19th, 2007, 07:10 PM	#1 (permalink)
boysRsmelly Moderator and Blogger Join Date: Sep 2006 Posts: 5,178	My parents are going to lose their house! I'm sorry... I've been kinda complain-y lately. I just can't tell people about these things... but they are so horrible that I feel like I have to tell someone. My grandma's husband said something to my grandma and somehow convinced her to sign power of attorney over to him (instead of the poa being my dad). My dad's grandfather had left him some money in sort of a trust fund type thing... it was supposed to be so my dad could pay off their house when it came time for him to retire. Well, somewhere along the line this money was moved to a credit union account that has my grandma's name on it. There isn't anything in writing anywhere... so basically my dad is now screwed because he isn't her poa anymore. The money is going to be used to pay for her nursing home. My parents will have to sell their house now... otherwise my dad would have to work until he was 80! Remember when I said my mom was acting weird and being "nice" to my grandma... well apparently, this was the money she was after. I had no clue they were going to rely on this money for their retirement! Haven't they ever heard of a 401k? Sheesh! __________________ Current Wishlist Balenciaga Mini Classique or Shoulder See by Chloe Animalia Keychain My Blog Posts

April 19th, 2007, 08:11 PM	#2 (permalink)
purse-aholic* Rising Bag Star Join Date: Mar 2007 Location: CT Posts: 131	Re: My parents are going to lose their house! well, that sucks that your parents were relying on that money to pay off their house. but maybe it will all work out because if they sell their house, they can use the equity to pay off a less expensive house and therefore, lower their payments. and aren't alot of poeple downsizing anyway? my parents are going through a divorce and my dad cant wait to get rid of his big house because it is only him and my brother that live there and they just dont need all of the extra room. so, it might not be such a bad thing. but it does suck that they were relying on that money all of this time to pay off their house and now they are forced to change their lives around. sorry to hear that...

April 20th, 2007, 06:36 AM	#3 (permalink)
boysRsmelly Moderator and Blogger Join Date: Sep 2006 Posts: 5,178	Re: My parents are going to lose their house! Yeah... it does suck. They are going to try to find a cheaper house somewhere... unfortunately that means it will probably need a lot of work done to it because of the price range they are going to have to look for. Most houses that cheap are "fixer-uppers". LOL! But I doubt my parents would have a lot of money to do any serious remodeling right away. I'm just finding all of this stuff out now... apparently this money that was left to my dad was "the plan" since 1989. They never told me any of this... sheesh, it's nothing but secrets when it comes to them! And they wonder why I'm so pissed at them all the time... Oh well... all the more reason for me to finish college, huh? __________________ Current Wishlist Balenciaga Mini Classique or Shoulder See by Chloe Animalia Keychain My Blog Posts

April 20th, 2007, 03:49 PM	#4 (permalink)
VivaLaJuicy MODERATOR/BLOGGER Join Date: Aug 2006 Location: Weslaco, Texas Posts: 5,862	Re: My parents are going to lose their house! I'm sorry to hear such bad news BRS.... I hope things get better, somehow.

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