Why would you do this?

Anonymous wrote:"I don’t want to deal with it. I feel as if he got himself into this mess and needs to own up to his own actions."

OP - You've answered your own question.

+1

Agreed. It's not your job to rescue your parents.

The bank will never approve a short sale to relatives, anyway. Just get your mother a new place to live while he sorts out his mess.

"I don’t want to deal with it. I feel as if he got himself into this mess and needs to own up to his own actions."

OP - You've answered your own question.

You are not morally obligated to help your stepfather get even on his house, even if you consider him your father. Buy it ONLY if it makes financial sense for you. How old is your mother? I assume a smaller, more economical and manageable place would work better for her as she ages?

This is about your mother's wants and needs. Does she want the house? Would buying it be financially all on you? Can she contribute and can you afford to make up the difference? What are the other long term housing options for her?

Forget about the SF, his needs are not your problem.

My Mother and stepfather are in the process of divorce but still living together. My stepfather lost his job a few weeks ago and wants to move to Florida to semi-retire. He initially proposed that DH and I buy his house for what was left on the mortgage (giving us about $60k in equity). A few days later my stepfather realized he is actually underwater and has negative equity from taking out a second mortgage in 2006. (Not sure how he or my mother did not remember this???) He then suggested we buy the home via short sale, but honestly, I don’t want to deal with it. I feel as if he got himself into this mess and needs to own up to his own actions. However, I do not want my mother to become homeless in the process. My mother’s name is not on the mortgages and she can live with us, at least temporarily. Is it terrible of me to let him default or we morally obligated to help him out?