I'll use bullet points to keep it as short as possible:
HER SITUATION
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My mother lost her job a few months back. Even though I fought tooth and nail to get her to save an emergency fund, the managed to spend 6k in three months
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Then my brother got in a car accident and my mom, even though he was broke, started paying for bills, hotel, car rental, etc.
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She came home after this happened to find her rent was being upped from $950 to $1550, starting September 1st. She does not have that money.
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She has a new job but it's not a good one. Certainly not enough to afford 1550/month in rent
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She also doesn't have a rental agreement on paper anywhere. Apparently she's been operating on a month-to-month verbal agreement.
CHILDREN'S SITUATION
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My husband and I bring home $4500 a month before taxes. We live in a single bedroom that we also work out of - Yes we have roommates. We're also contractors and have to pay for health insurance and other expenses out of pocket each month. We can save a little each month but are basically living paycheck-to-paycheck.
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My two siblings are in similar situations. Both live with roommates. One is also trying to save money and the other is trying to pay off >$20k in student loan debt
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No kids, and with my mom behaving as she is none of us feel comfortable having children.
WHAT SHE WANTS TO DO
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She doesn't have any friends nearby who can take her in.
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She has $75k in a life insurance policy from my father's death but she hasn't touched it since she got it.
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She wants to use that money as a down payment on a house or townhome so she doesn't have to pay rent and can have pets.
QUESTIONS
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Is it possible for her to actually buy a house?
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What can she do to keep from becoming homeless at the end of this month?
Submitted August 07, 2017 at 12:38AM by dammitmomreturns http://ift.tt/2uxxZmS
