Boomer father is getting a reverse-mortgage on our house

>boomer father is getting a reverse-mortgage on our house

I love him but I'll be left with absolutely nothing. I feel more JUST'd than when the crypto bubble popped (went from ATH of 220k to 12k)

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Why did you think you were entitled to anything in the first place?

because inheritance is the only way OP is going to be able to ever have his own place without renting for the rest of his life

it sucks happening in the family user but its not a rare thing in wider society, theyre the most selfish generation of all time and want to die taking as much form the world as possible regardless of them having it all handed to them on a plate.

Must be nice to think you're going to get anything from your parents.

Mine charge me rent, which I obviously pay and don't want to be a freeloader, but it's only about $200 less than the local rooms and he's been pressuring me for more money under the pretense of "obligations" after finding out I'm not a complete dumbass and have been saving money. Nearly $10K now trying to save up for a condo down payment so I can move out, never make the mistake of telling people your net worth.

The truth is in between these two posts. You don't deserve anything just for existing, that's a boomer mentality, but it does still suck hard.

Be better than them. Start a business and try to leave the world a better place for your children, instead of sucking the marrow out of western civ on the way out like the Me Generation.

>entitled
his boomer parents naturally should feel duty bound to help their offspring out as much as possible, the behaviour of baby boomers is about as un-natural a movement any parent could make in history, its something we dont see in nature anywhere.
a lone wild duck would stand up to a pack of wolves to protect its young ffs, the boomer parents dont even need to sacrifice anything in retirement to save their children, they just need to have a little bit less fun

also for those that say its his parents money and they can do whatever they want with it, consider the consequences of inter-generational wealth in wider society and that every post industrial generation has had a harder playing field than the last.

do you think the kikes got to where they are by remortgaging their land and businesses every 60 years? do the european royal houses sell off art and gold to fund 3 week vacations in the caribbean?
the boomers were the first generation to not take care of their own elderly at home, choosing to dump them in institutions to get medicated to death, it shouldnt be a shock they dont feel like they have any responsibility to their younger generations either.

How do reverse mortgages work? How much do boomers usually take out against the value of the house?

are you dumb or a jelly orphan? This has been down for thousands of years. There is a reason there is such a thing as death tax

These basically. The boomers started the whole "everyone for themselves" meme so now we just have to play by their rules. The best revenge is to be more successful than the people you hate, and instead of flaunting it just be better than them with your own hands.

And if they aren't greedy for money or looking for self gratification over their own children's wellbeing then they will only praise you for being better.

The death tax is only for multi-millionaires. This guy thinks he's entitled to deprive his parents of a comfortable retirement despite never having done a single thing for them.

I have to pay rent to my mum because she often needs the money badly even though in my country it isn't very common. She earns over 100k/y and will often have periods of time where she has no money in her account. I've saved 22k so far and I'll be out as soon as I have 35k.

I estimate that paying her rent money since I was 16 will have cost me at least 25k at this point, but when that is factored into the long term regarding housing deposits it wouldn't surprise me if this will set me back around 50k once interest is factored in on a housing deposit over my lifetime.

Given the naturally compounding effect of early saving I will never be charging my children rent unless they turn into sponges living at home at 25.

brah i had fuarking 500k cad down to 8k srs

This is why the white race will go extinct unironically.

stop thinking like a gold digging whore. that's your dads money. you must be such a disappointment to him.

reverse mortgages should be illegal when the occupants are 65+ without a competent co-signer

>Parents have house that's been in family for 3 generations.
>In comfy historic district thats only seeing housing prices rise.
>Sell it to buy a shitty condo in florida
I love my parents but why do they have to be such boomers. I was looking forward to the day I'd pass that house down to my grandchildren but fuck that.

My father took out a HELOC for 100k to help me finance my first real estate investment. I'm responsible for paying back that 100k, but I would not have been able to take on the deal with that extra help. Paid back 25k so far, 1 year later.

>Boomer parents
>mom dies
>new gf convinces him to sell mansion in for $4M
>convinces him to buy a shit condo in florida
>immediately start burning through cash on extravagant lifestyle and vacations
>convinces him to drop hundreds of thousands on her business ventures
>they all fail
>sends me emails lecturing me and my brother about how easy it would be to start a business with zero capital

this fucking bitch

Let me guess, you're white

Imagine being charged rent by your own parents holy shit lmfao

just lol @ burgers. the most heartless disgusting shit people on planet earth.

even chinks treat their own families better

Why do you love your dad when it's clear he doesn't love you? My dad is reverse mortgaging his cmhoise and buying RVs, vacations and all kinds of dumb shit. Meanwhile I am working 80 hours a week trying to battle the Jews to get ahead. Fuck boomers. You'll feel better when you adopt this mindset

not just asians but basically anyone but niggers treats their families better than white disgusting burgers.

>Conflating money with love
Hallmark of a pathological family.

Mine did the same and gambled away the money trading chink stocks

Great thread OP. This is cruel fate of those living paycheck-to-paycheck and one chest move the lenders expect to happen. Start paying your parents mortgage or follow the same trajectory as OP.

this sickens me

A third party holds the title and pays you x monthly, based on need 1600-2500, after determining the assumed value and their life expectancy. My grandma in her 80s gets around 1900 for a house she bought in the 70s. Imagine if you got a reverse mortgage on a Malibu beachside home and they paid you 7 grand each month. It would be a same if something happened to you. Anyway, Thanks Henry Winkler.

Implying a reverse mortgage isn’t bounding you to your domicile until you die. If you had the capacity to travel in retirement and live comfortably with a reverse mortgage, either one would happen not both. Plus if you were traveling, you would Airbnb or become a slumlord with your property instead of falling for predatory “loan”. That’s what this is a death contract of the worse kind. Another layer of complexity to how we treat the elderly.

why not just sell the damn house and have all the $ instantly?

Unironically leave them in a home when it comes time, thats unforgivable

Hey user what's your business I might invest in it or stop on by one day!
Wait you haven't started it yet?

>grand dad died
>Literally leaves fucking nothing besides 150$
>Parents will do the same at this rate
Fuck boomers

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You spent ~50 years in the same place you get them feels when you imagine moving on. It’s like if you got the option to put your brain in a vase vs living only 20 years in your broken down body. It’s a complex issue with a simple solution: we help you immediately (simple solution) to amend your complex life/cost. Something something destitute.

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>parents spent fuckton of time, money and care in raising you.
>they don't want to give you a fuckton of money you didn't earn before they die
>I'll abandon them because they don't love me
They were correct in their assessment of your personality. You're a shitstain that would squander the inheritance.

>She earns over 100k/y and will often have periods of time where she has no money in her account.

*gulps*

It wasn't a bubble. Stop being so shortsighted

how do you think the rich get rich and stay that way? because they aren't stupid boomers like OP's dad who reverse mortgage their house to spend on gambling money.

>the rich stay rich because they give up houses-worth of wealth for free to people that aren't adept at handling money.
>lose ~95% of your investment in crypto
>be surprised when people aren't assured in your skill at handling large amounts of money

Your implications are wonderful exhibit of mental retardation. You have to go back

Boomers are starting to have 2 meanings.

A large generation, but now its starting to sound like infanticidal maniacs Kek