"I'm not looking for your opinion, but I am looking for your input."
The mother-in-law is selling her home. One of the buyers has asked for her to hold the mortgage. The husband, of course, thinks this is a terrible idea. The mortgage is for thirty years. The mother-in-law is eighty four. If anything goes wrong then it will be up to the husband to fix.
The mother in law doesn't seem to care about that risk. During their discussion, the mother-in-law said "I'm not looking for your opinion, but I am looking for your input."
It would be funny if there wasn't so much at stake.
The brother-in-law, the husband and I have started constantly using that line with each other.
2 comments:
Isn't input and opinion the same thing? Sounds like a terrible idea to me too.
Well, I Hope the MIL doesn't tote the Note, just sayin', too much can and often does go wrong. Let the Risk be on some Lender, if the new Buyer defaults she would be paying out of pocket for all the Legal recourse, which can be considerable. I used to represent Major Financial Institutions in their Collections, Foreclosures and Bankruptcy Departments for Real Property... the expenses can add up even for large Financial Institutions that can afford the hit. You almost always lose Money when someone defaults and Investors are skittish about that too. Better she get cashed out and know she has all her equity!
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