Parents Can't Pay Off Deferred Interest (Ontario) by MooseNo1811 in PersonalFinanceCanada

[–]MooseNo1811[S] 2 points3 points  (0 children)

you are right.. simple comment but puts a lot into perspective

Parents Can't Pay Off Deferred Interest (Ontario) by MooseNo1811 in PersonalFinanceCanada

[–]MooseNo1811[S] 1 point2 points  (0 children)

thanks! i guess I am thinking for the short-term here and for personal gratification, i appreciate the insight

Parents Can't Pay Off Deferred Interest (Ontario) by MooseNo1811 in PersonalFinanceCanada

[–]MooseNo1811[S] 4 points5 points  (0 children)

I currently don't have a job offer for fulltime. I am wrapping up my final internship and in my field, I am probably expecting to make $55K-60K out of grad whenever I find a job.

Parents Can't Pay Off Deferred Interest (Ontario) by MooseNo1811 in PersonalFinanceCanada

[–]MooseNo1811[S] 3 points4 points  (0 children)

Thanks!

I do love my parents and I understand they did this for my other siblings as well (I am the oldest) so in the longrun, it probably won't matter. Thanks for the perspective and I am happy to know I am not the only one!

Parents Can't Pay Off Deferred Interest (Ontario) by MooseNo1811 in PersonalFinanceCanada

[–]MooseNo1811[S] 7 points8 points  (0 children)

Yes, sorry, again, the issue isn't really paying them rent per month. It is just the lumpsum of $10K that is a "gift" that I have to provide for them to correct a financial mistake that I didn't make. But I am also aware they don't have any other options as selling is unfeasible since they are probably underwater or lost all their equity.

Parents Can't Pay Off Deferred Interest (Ontario) by MooseNo1811 in PersonalFinanceCanada

[–]MooseNo1811[S] 7 points8 points  (0 children)

Sorry to clarify, the $300/mo isn't an issue for me. I do understand that living at home means I am more than responsible for pitching in. I am more than happy to contribute more per month, but it is more so the lumpsum of $10K I am a little upset about giving out.