thanks in advance to any who respond with helpful advice.
As background iam twice divorced and twice bankrupt so my credit score is not something that ayone could a source of pride. Iam awaiting a decision on cpp disability that i should get vey soon and with that should come 2 years retro pay. I am 48 and have a son that just turned a year old. i am living in my parents home and they have renovated and are moving into what used to be the summer cabin. to enjoy their retiement years they need to sell this house so they can have the money they need to do the things they want to do. I am desperate to keep this home in the family and i know my dad would like me to be able to buy it and would sell it to me for less than market value if that would make it easier for me to find a mortgage.i have renters lined up that would rent rooms in the house to cover the mortgage payments and am also very nterested in perhaps renting out part of the home for an air bnb e. im just wondering if anyone knows if there is a way i could get a mortgage on the property even if my credit is poor based on the collateral equity in the home being worth more thanthe ammount id be asking to borrow. or another way i can buy my dads property so he can get a large cash injection and i can buy my childhood home nd use the property to generate income while also living in it.` my dad needs to sell the property here asap to help pay for the upgrades to the lake house they will be moving into. I am also supposed to be eligile for some kind of government money for rdsp called the grant even if i haveno money to put away myself due to having had the disability tax credit for many years I would appreciate any advice info anyone has to offer because i dont know where to begin and losing this property is not a option i can bear to think about. its a very unique rural property with a bridge we built over a creek that rus to to the river on the rear boundary of the land and a lot of forested acres that we have been cutting and maintaining walking trails through since i was a kid. The property also has a shop and 2 car garage i use to make extra money fixing cars and electronics, doing some welding and other assorted projects. oh Both of the properties are in manitoba. Please do not tell me that there is no option that i can use to keep y home.
As background iam twice divorced and twice bankrupt so my credit score is not something that ayone could a source of pride. Iam awaiting a decision on cpp disability that i should get vey soon and with that should come 2 years retro pay. I am 48 and have a son that just turned a year old. i am living in my parents home and they have renovated and are moving into what used to be the summer cabin. to enjoy their retiement years they need to sell this house so they can have the money they need to do the things they want to do. I am desperate to keep this home in the family and i know my dad would like me to be able to buy it and would sell it to me for less than market value if that would make it easier for me to find a mortgage.i have renters lined up that would rent rooms in the house to cover the mortgage payments and am also very nterested in perhaps renting out part of the home for an air bnb e. im just wondering if anyone knows if there is a way i could get a mortgage on the property even if my credit is poor based on the collateral equity in the home being worth more thanthe ammount id be asking to borrow. or another way i can buy my dads property so he can get a large cash injection and i can buy my childhood home nd use the property to generate income while also living in it.` my dad needs to sell the property here asap to help pay for the upgrades to the lake house they will be moving into. I am also supposed to be eligile for some kind of government money for rdsp called the grant even if i haveno money to put away myself due to having had the disability tax credit for many years I would appreciate any advice info anyone has to offer because i dont know where to begin and losing this property is not a option i can bear to think about. its a very unique rural property with a bridge we built over a creek that rus to to the river on the rear boundary of the land and a lot of forested acres that we have been cutting and maintaining walking trails through since i was a kid. The property also has a shop and 2 car garage i use to make extra money fixing cars and electronics, doing some welding and other assorted projects. oh Both of the properties are in manitoba. Please do not tell me that there is no option that i can use to keep y home.