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TexasBlues wrote:

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Ugh ... you do realize that the money will be gone, gone, gone, don't you? Are your parents seriously in danger of starving? Or are they simply avoiding making some hard choices by taking ... I mean, borrowing your money? It sounds more like they don't want to make the sacrifices necessary to make ends meet.

How is you giving them money, and then having to take out loans to go to school, a good idea? Do not let them make you feel guilty - go back to Ann Arbor early if you have to, but don't leave yourself in a situation where they can drag you into their mess. I lent money to relatives twice - never again.

Good lord, I'm glad that my parents are fiscally responsible.

My Dad broke it down for me after I pried a lot...or at least, he gave me some numbers. They have 3 morgages coming up that are due, each $2,800, and then a health insurance payment which was $1,200. Since they have no cash, I think my mom is planning on taking money out of her IRA--for which she'll be penalized--which will give them $5000. That leaves $4,600 for them to pay. Plus, they'll still need cash for food and stuff...and I don't know what they're doing for that. I think they're just charging all other expenses to credit cards.

He did not tell me how much he owes on all of his unpaid credit cards. I'm too scared to ask.

At any rate, my dad was asking for $3,800 only. I'm thinking I'll just give $4,600, because assuming I graduate in the next 3 years (which I should) I should still have enough to cover the cost of tuition and housing and food. Any extra money I need to sustain myself I can obtain by getting a job or two--this last year, I worked two part-time jobs, didn't do a whole lot of hours but still had enough money to pay for any extra random costs I had. So, I'm thinking I'll be fine.

It's them who I'm concerned about. They say they're going to pay it back after they sell the house which people are renting right now--the capital gains doesn't apply for it because we were living in it just a year ago, so that should be fine. I don't know if they actually will pay me back, but I hope they do, because that will definitely be a sign that they can sustain themselves.

If they ask for more money after this, though, I don't know what I'll do. Maybe I will flee and go back to Ann Arbor, though I'd hate to have to do that.

Exactly JVL, they should sell that house, except they can't cause there are people living in it right now, whom they are collecting rent from--and I believe the rent is too low to cover the morgage.

My mom told me the renters were at one point talking about buying the place from us. Hopefully that will happen...it would be nice if they just bought it right now, but who knows if they actually will ever buy it.

Really, all of these problems arose from my dad's decision to spend lots of money fixing up the house--money that he borrowed from others--and then spending two months fixing up the place, rather than just putting it on the market right after we moved out of it in June, if anything just because the summer is a great time to sell homes.

One other thing to complete the picture of this situation: My dad has some money outside of the country that we're planning to obtain at some point in the next three weeks or so. The trick is getting it here. If that money comes through, then they should be fine up until September--and I'll be long gone by that point.

quietsurvivorfan wrote:

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Frankly, you should have your folks declare BK, move out of the houses, give them back to the bank, get a cheaper place to live and get a JOB. Dayum. I posted my previous post before I read the details above.

See, this is the thing that I find most upsetting to me...there's this issue of pride at play with my dad. He does a lot of fundraising work for a nonprofit scholarship organization...AS A FREAKIN VOLUNTEER! And he contributes at least 50 hours a week, and he's not even getting paid part-time because he wants to treat it as an "on the side" project that he can show off to people, or some bullshit like that. He does it so he can say, "Oh, I'm doing such and such and such to help people," and have a good reputation among his crowd of friends, but in reality he's the one who needs the most help financially himself.

pretzeldential wrote:

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Or maybe it's time to GET A JOB.

I'm not here in Cali long enough to be doing anything...I've searched abouts on craigslist and other internet sites for any short-time jobs, but to not much avail.

When I get back to Ann Arbor, I will get a job for sure. Like I said before, I had 2 part-time jobs when I was in Ann Arbor previously...

pretzeldential wrote:

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One other thing to complete the picture of this situation: My dad has some money outside of the country that we're planning to obtain at some point in the next three weeks or so. The trick is getting it here. If that money comes through, then they should be fine up until September--and I'll be long gone by that point.

This is obviously a lie to make you feel better.

Actually, it isn't--we've gotten money from overseas previously, so I'm pretty sure it's the truth.