My parents are moving to a new home in my home town, since my father is convinced that my mother will outlive him, and we all know there's no way she can take care of the home place by herself.
This leaves the property I grew up on. My parents are looking to sell it.
It's 15 acres of wooded pastureland set in a very rural part of Louisiana. My folks bought it 30 years ago for $18000, and I think they're looking to sell it somwhere between 20-30000.
I want to buy it.
This is a simple matter, until one considers my credit history. I've never had a credit card, and I had a delinquent student loan. Bren has indicated that he's willing to take out a co-mortgage with me, but we're not sure what kind of legalities are involved here.
We both want this on our credit histories, since buying a home is a very good thing to have on there.
Does anyone know the ins and outs of mortgage law? Specifically, joint mortgages between two people that aren't married?
We can definately get the 20% for the downpayment, and we have a good lender in mind.
I'm tremendously excited about this- I have plans for the property and the house that I think my parents will be happy with. When I told them not to put it on the market, my mother was beside herself. :)