Cash in the financial institution is far more essential in your position than borrowing to own a home!
She has nothing through to the residence is ended up selling and you can exactly who understands just how long that can just take. She may require assistance of some sort in the mean time to re-establish their self.
I would personally suggest having fun with a consumer’s representative to greatly help using this) next in a number of decades day, one property may have increased for the really worth enough for you to attract brand new security and buy one minute money spent
I found myself going to declare that kissykat does not need to establish a credit score, in case a reputation transform happen considering the separation then that might be the situation.
Basically was in fact your I’d hide the brand new 100k given that an urgent situation financing, and you may book unless you features an actual earnings sorted. Following make in initial deposit regarding scratch.
I listen to its nigh impossible to safer a mortgage in the event that you’re on solitary mothers retirement, also a great $200k product (that have a 100k deposit) inside the a dodgy urban area
Out of my personal position, here is the best advice. That being said, people are concerned with regards to reputation and you will photo in order to book for an extended period of energy. Read more