Moredetails later, but they let me down one too many times and this will cost me a lot if they let me down again
Just had this same discussion at lunch about my wife's sister. They are going to lose their house - do a short sale. Want to buy a new one closer to work - we put down payment etc.
I told her be prepared to lose all $$ and be ok with it.
You can pick your friends and your nose but you can't pick your relatives.
Moredetails later, but they let me down one too many times and this will cost me a lot if they let me down again
So i let my brother and mom rent my house cause i had to take a jobs in another state. Told them what rent was (I am still covering a good portion of it) so first my mom loses job, no biggie I can cover. Then the rent starts showing up late, then for less than what it is supposed to be, then not at all. I work with bank and save my house for hem in the 11th hour. Explain what the pymt is going to be they agree. I get first pymt, then i get a txt about my sister needing to file bankruptcy to save her house so my brother says he is giving her 500 and wants me to pay 400 so she can file. Problem is his 500 is part of the mortgage he owes me. He tells me he is doing me a favor renting my house. I told him his first prority is to me and my house. If he doesn't pay his agreed upon rent I lose my house and he and his kids my mom and ohers then have no place to live. I tried to help my sister almost 5 months ago and she and her husband wouldn't listen. Now I am supposed to help her save her house while losing mine. Wtf?! He als said he might have to move out blah blah. I told him I ruined my credit to save this house for you so you could by it someday because you will never be in a position to buy one on your own and I ruined my near term financial future as well for you. Honor your commitment to me or I will no longer have a family except for means my kids. I am cashin in my 401k to cover my sisters bk. I can't do more than that.
I learned a long time ago don't mix money with family,i loand my cousin $10,000 dollars to keep him from loosing his home ,this was 30yrs ago,i have yet so see one dime of it!

My rule after having a fallout with a family member of my own - is to never let anyone rent from you, or borrow money that you expect back. Give it to them (even if they promise to repay) knowing you wont get it back; and dont rent to family members unless you can cover when they cant pay you. I hd a fallout and it took me 6 years to speak to her again. I might be nice but I have a horrible angry streak and I'm kinda stuck up and I unfortunately dont forgive as quick as people would like
Why are you cashing out your 401k to help your sis? You wont get that money back; and you cant afford to hand over your future. You've got to say NO! Like MM said, she needs to fall down and land hard so she can stand on her own too feet herself and hopefully will do somehting to guarantee she can provide a roof over her head on her own without help.
You are a man of honor and I understand about having to do what you have to do that allows you to face your reflection in the morning. Believe me, I really, really do.Anyway, that is a different story. I will do what I need to, to take care of my family, even if I never talk to them again.
finances are the quickest way to fuck a family up
Virtually the exact same thing happened to my mother's family over the family farm, except in addition to the siblings hating each other's guts for the rest of their lives (that family is GOOD at holding grudges, they actually take pride in it), there eventually was nothing left of the estate because it got eaten up in legal fees. Talk about ironic. Nobody got nuthin'For real - breaking up my Gran's estate tore my mum & her siblings apart due to greed etc.
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