Posted in home improvement loans

I moved into my in-laws’ home. My husband wants to pay his parents’ mortgage, but it will come out of my income. How can I protect myself?

Dear Moneyist,

I got married recently and moved into my husband’s house that he shares with his parents. (His name and his parents’ name are on the deed.) Currently, we pay a small amount for rent, but my husband hopes to take on the mortgage of the house over the next couple of years. I am the breadwinner, and so the majority (or even all) of the money that would go towards the mortgage would be coming from me.

Before fully committing to this, are there any precautions I need to take? Or what are the risks I could be facing? I am worried about what would happen if I end up paying off their home, and they want to sell it or my in-laws pass away, or if they decide to give their share of the house to my husband’s sister, or if my husband and I separate (which

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Continue Reading I moved into my in-laws’ home. My husband wants to pay his parents’ mortgage, but it will come out of my income. How can I protect myself?
Posted in home remodeling

I moved into my in-laws home. My husband wants to pay his parents’ mortgage, but it will come out of my income. How can I protect myself?

Dear Moneyist,

I got married recently and moved into my husband’s house that he shares with his parents. (His name and his parents’ name are on the deed.) Currently, we pay a small amount for rent, but my husband hopes to take on the mortgage of the house over the next couple of years. I am the breadwinner, and so the majority (or even all) of the money that would go towards the mortgage would be coming from me.

Before fully committing to this, are there any precautions I need to take? Or what are the risks I could be facing? I am worried about what would happen if I end up paying off their home, and they want to sell it or my in-laws pass away, or if they decide to give their share of the house to my husband’s sister, or if my husband and I separate (which

Read More
Continue Reading I moved into my in-laws home. My husband wants to pay his parents’ mortgage, but it will come out of my income. How can I protect myself?