[Mooki]

I used a few of their restaurant coupons and am happy about the savings. I strongly recommend against Groupons for personal service that requires bookings that are clearly over sold. e.g. The other day there was a Groupon offer from a photographer for an on-site or studio photo shoot session. He sold like 200 of them on Groupon. Imagine how likely you are going to get a booking in the near future. Not to mention there is absolutely no recourse when he decide to go out of business.

[Mooki]

Thanks everyone! I have to rethink it through. At this point, getting a new appraisal, a new realtor, and trying to sell ASAP seems to be the best.

Since mom and I have an agreement (not written) that the money I sent her over the years are loans, I have been keeping good record of every checks I sent her and every bill I paid for her. When the house is able to sell, she will pay me back that $25K as much as possible. With the checks to show that the money was loaned to her in the first place, her repayment to me should not be considered as gift. If the government is to tax on children helping their elderly parents because social security and Medicare suck, there is something wrong with this country (or am I stating the obvious?).

[Mooki]

Thanks everyone! I have to rethink it through. At this point, getting a new appraisal, a new realtor, and trying to sell ASAP seems to be the best.

Since mom and I have an agreement (not written) that the money I sent her over the years are loans, I have been keeping good record of every checks I sent her and every bill I paid for her. When the house is able to sell, she will pay me back that $25K as much as possible. With the checks to show that the money was loaned to her in the first place, her repayment to me should not be considered as gift. If the government is to tax on children helping their elderly parents because social security and Medicare suck, there is something wrong with this country (or am I stating the obvious?).

[Mooki]

Thanks everyone! I have to rethink it through. At this point, getting a new appraisal, a new realtor, and trying to sell ASAP seems to be the best.

Since mom and I have an agreement (not written) that the money I sent her over the years are loans, I have been keeping good record of every checks I sent her and every bill I paid for her. When the house is able to sell, she will pay me back that $25K as much as possible. With the checks to show that the money was loaned to her in the first place, her repayment to me should not be considered as gift. If the government is to tax on children helping their elderly parents because social security and Medicare suck, there is something wrong with this country (or am I stating the obvious?).

[Mooki]

Thanks everyone! I have to rethink it through. At this point, getting a new appraisal, a new realtor, and trying to sell ASAP seems to be the best.

Since mom and I have an agreement (not written) that the money I sent her over the years are loans, I have been keeping good record of every checks I sent her and every bill I paid for her. When the house is able to sell, she will pay me back that $25K as much as possible. With the checks to show that the money was loaned to her in the first place, her repayment to me should not be considered as gift. If the government is to tax on children helping their elderly parents because social security and Medicare suck, there is something wrong with this country (or am I stating the obvious?).

[Mooki]

Thanks everyone! I have to rethink it through. At this point, getting a new appraisal, a new realtor, and trying to sell ASAP seems to be the best.

Since mom and I have an agreement (not written) that the money I sent her over the years are loans, I have been keeping good record of every checks I sent her and every bill I paid for her. When the house is able to sell, she will pay me back that $25K as much as possible. With the checks to show that the money was loaned to her in the first place, her repayment to me should not be considered as gift. If the government is to tax on children helping their elderly parents because social security and Medicare suck, there is something wrong with this country (or am I stating the obvious?).

[Mooki]

OK, my mom is not gifting me $25K. I loan her $25K over a few years of helping her out. This is a few thousands here and there. Some are not directly to her but checks to her realtor and persons fixing her house etc. Now she wants to pay me back the money she owes me, either from the proceeds of selling the house or through giving me part of the interest/equity of the house (since the house does not sell). How do we make it clear to the IRS it is a loan repayment and not a “gift”?

[Mooki]

OK, my mom is not gifting me $25K. I loan her $25K over a few years of helping her out. This is a few thousands here and there. Some are not directly to her but checks to her realtor and persons fixing her house etc. Now she wants to pay me back the money she owes me, either from the proceeds of selling the house or through giving me part of the interest/equity of the house (since the house does not sell). How do we make it clear to the IRS it is a loan repayment and not a “gift”?

[Mooki]

OK, my mom is not gifting me $25K. I loan her $25K over a few years of helping her out. This is a few thousands here and there. Some are not directly to her but checks to her realtor and persons fixing her house etc. Now she wants to pay me back the money she owes me, either from the proceeds of selling the house or through giving me part of the interest/equity of the house (since the house does not sell). How do we make it clear to the IRS it is a loan repayment and not a “gift”?

[Mooki]

OK, my mom is not gifting me $25K. I loan her $25K over a few years of helping her out. This is a few thousands here and there. Some are not directly to her but checks to her realtor and persons fixing her house etc. Now she wants to pay me back the money she owes me, either from the proceeds of selling the house or through giving me part of the interest/equity of the house (since the house does not sell). How do we make it clear to the IRS it is a loan repayment and not a “gift”?

[Mooki]

OK, my mom is not gifting me $25K. I loan her $25K over a few years of helping her out. This is a few thousands here and there. Some are not directly to her but checks to her realtor and persons fixing her house etc. Now she wants to pay me back the money she owes me, either from the proceeds of selling the house or through giving me part of the interest/equity of the house (since the house does not sell). How do we make it clear to the IRS it is a loan repayment and not a “gift”?

[Mooki]

It is very helpful to me to see the second opinions here. Yes I have been helping my mom because she is my mom. Given that I will always help her, I want to find a way that will yield the best (or least negative) outcome for both me and her.

Her current mortgage is only about $600 a month. My car loan is $1000. With my car loan I already pre-qual for enough to buy a house I want in San Diego. When my car loan goes away and I take over her mortgage, I’m actually having a lower debt. So I assume I will still qualify for the same loan amount here. What am I missing? The GA house is far from under water.

[Mooki]

It is very helpful to me to see the second opinions here. Yes I have been helping my mom because she is my mom. Given that I will always help her, I want to find a way that will yield the best (or least negative) outcome for both me and her.

Her current mortgage is only about $600 a month. My car loan is $1000. With my car loan I already pre-qual for enough to buy a house I want in San Diego. When my car loan goes away and I take over her mortgage, I’m actually having a lower debt. So I assume I will still qualify for the same loan amount here. What am I missing? The GA house is far from under water.

[Mooki]

It is very helpful to me to see the second opinions here. Yes I have been helping my mom because she is my mom. Given that I will always help her, I want to find a way that will yield the best (or least negative) outcome for both me and her.

Her current mortgage is only about $600 a month. My car loan is $1000. With my car loan I already pre-qual for enough to buy a house I want in San Diego. When my car loan goes away and I take over her mortgage, I’m actually having a lower debt. So I assume I will still qualify for the same loan amount here. What am I missing? The GA house is far from under water.

[Mooki]

It is very helpful to me to see the second opinions here. Yes I have been helping my mom because she is my mom. Given that I will always help her, I want to find a way that will yield the best (or least negative) outcome for both me and her.

Her current mortgage is only about $600 a month. My car loan is $1000. With my car loan I already pre-qual for enough to buy a house I want in San Diego. When my car loan goes away and I take over her mortgage, I’m actually having a lower debt. So I assume I will still qualify for the same loan amount here. What am I missing? The GA house is far from under water.

[Author]

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