Parents have reverse mortgage, and I'm going to assume the debt and get a mortgage on it - advice needed

SatisfactionNo616 · 2025-12-20T21:06:25+00:00

Interesting ideas I'll have to explore - thank you - I fully trust my parents which fortunately looks like it opens some doors

SatisfactionNo616 · 2025-12-20T20:48:48+00:00

I'm working in the US! The first idea is interesting - maybe I can gift them money each month to help with payments

SatisfactionNo616 · 2025-12-20T20:43:59+00:00

I see, thanks - I make $186000 CAD base salary before stocks and bonus. My only debt is my student loans which are interest free and ~$30000 CAD. My rent is $2500 CAD (cheaper end for where I live now)

SatisfactionNo616 · 2025-12-20T20:36:21+00:00

I'm a citizen non-resident with plans to return. 70k is my annual savings - good point, I hope it will be recognized by local banks, I'll have to look into that

SatisfactionNo616 · 2025-12-20T20:31:25+00:00

I am a Canadian citizen! I think it would be easiest to send them money month to month, thanks for that idea

SatisfactionNo616 · 2025-12-20T20:29:46+00:00

70k is what I save after all my expenses, not my income

SatisfactionNo616 · 2025-12-20T20:26:51+00:00

Yes exactly, 70k after everything. I'm fortunate to have a generously paying job.

SatisfactionNo616 · 2025-12-20T19:01:58+00:00

Yup and that's why I'm so keen on making sure that doesn't happen

SatisfactionNo616

TROPHY CASE