Parents are in debt, and i want to help them out

Bosshog said:
I have no advice regarding your situation.
However i just wanted to say fair play to you for taking on this problem and trying to sort out you folks. Far too many people these days take advantage of their parents.
In your case, only 1 child in 9 is willing to help out the people who reared them. That is an appalling statistic.
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I agree fully with you Bosshog, its an absloute shame on current Irish morals.

My bothers and sisters are of the same ilk as Hizzy`s, greed and self-acts all the time, with out any regards for my parents future.
 
My sympathies to the OP.

But we don't know what is going on here, as Brendan pointed out other siblings may have warned their parents and now feel aggrieved that they now have to pick up the pieces.

Or CSirl may be right that the two brother whose names are on the deeds have squirmed their way into a nice position. Leaving the others annoyed that they must pay their brothers mortgage.

Sounds like the parents have been a bit naive in this situation.

So to say 1 in 9 is a snap shot of Irish morals today is jumping the gun a lot.

If our parents got into financial difficulty I know that I would not be alone in helping them out.

Good luck OP.
 
I really think for a situation this complicated the OP should contact a solicitor for advice.
 
What really happened here? Originally the house was in your parents joint names, right? Then one son wanted a deposit for a house and apparently some extra and persuaded your parents to remortgage their own house? Then they couldnt get the remortgage on their own so added the names of two other sons to the mortgage? So is the property now in four names- ie two brothers and two parents? Or is it in the name of two of your brothers only? Where did your parents think the money for the repayments was going to come from when they were making these arrangements? After all what kind of job did your brother have to say he was going to make the repayments on your parents remortgage and also on the house he was buying? It sounds very strange to me that your parents believed he could make both repayments when he didnt qualify for a 100% mortage and couldnt afford to save for a deposit. What happened to the repossessed house- did your brother receive any money back out of it? He must have put some kind of substantial deposit down presumably if your parents had to remortgage to give him the money, so what happened to the equity in the house? Where is he now- is he working? Only one of the two brothers who's names have been put on the house is paying towards the mortgage- which one?
 
i cold be wrong but i think there is some protection afforded to your parents under the family home act. if they sold their house without obtaining independent legal advice i.e separately to your borthers the pruchasers, then the sale can be overturned. however if your bros don't have any money i'm not sure if it;s of any benefit to you. certainly if there were children under 18 living in the house at the time the sale was done then the protection of the Family Home Act should be applied and i think solicitors or banks could be sued but again not sure. someone on here should know tho.
 
It is more prevalent that you think. In large families siblings are out to get what they can for themselves and leave the most vulnerable sibling of the family to pick up the pieces because in their opinion they feel that the sibling that is concerned for the welfare of their parents would be a softie and they feel that sister can be easies bullied. Things can be very complicated in families and you have to be strong because families can take advantage of each other without respect for the vulnerable sibling and very often parents as well.



I know this is a generalisation but unfortunately it does happen far too often.
 
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