Bit of a Francine question here, so sit back and get your popcorn, this should be a corker
So I have this friend, in her 50s, hubby in his 60s. 30yo freeloading son lives at home with them with his 8yo daughter. He gets the single parent pension, his only expenses are a WoW subscription and any bills they convince him to pay at gunpoint, so his bank balance is ticking heartily upwards (she does his banking) and he won't move out. 8 years of living with mum with next to nil expenses when your life only involves WoW has gotta mean some decent savings there. And of course he's been getting all the government stimulus packages too.
They want him to move out. Their house is more than big enough for all of them, unfortunately, so I think they have buckleys to none chances of him moving out while he's at home in Chateau Le Parents.
Anyway, she was talking about just sneaking off and buying him a house - forging his signature came up as an option, apparently she's good at it - and then trucking him off to his very own new house. Personally I think THEY should sell their very big and very nice house, move out, and leave him there as some kind of human excess baggage for the new owner to forcibly evict.
He's eligible for the FHOG. He has savings. He's on a stable Centerlink pension and will be for life, if he manages to convince someone he qualifies for the disability pension (he's working on that one). He'd probably even qualify for a full-doc loan. No way in hell he's ever going to get a job. Parent pension is about $520 a fortnight + $250 or so in FTA/FTB, all tax free, probably a bit more than that nowadays actually.
Figures he'd be looking at to build and get the $25k grant would be $500 for the land, $75,000 for the house, $5,000 for tanks, $3000 for a septic install, and another few $1000 for electricity connection. Or he could just get a pre-loved house for about $50-80k locally or $110-120k in a different town. The FHOG + savings would make the deposit eaaaaaaaaasy.
So, would he even qualify for a loan for a house? Could she forcibly march him into a bank and get him to actually MOVE OUT into a house he owns? Or is swiping his ID and bank statements when he's asleep (which is all day most days) and doing it all for him even an option? When we got our loan we just faxed everything in and only talked to the broker by phone/email and never laid eyes on a Real Bank Person, which leads me to believe if the mother tried to do all this for him she'd probably be able to do it. Or just running the figures past a broker, knowing it *can* be done and then waving the loan offer under his nose might even make him do it himself ...
So I have this friend, in her 50s, hubby in his 60s. 30yo freeloading son lives at home with them with his 8yo daughter. He gets the single parent pension, his only expenses are a WoW subscription and any bills they convince him to pay at gunpoint, so his bank balance is ticking heartily upwards (she does his banking) and he won't move out. 8 years of living with mum with next to nil expenses when your life only involves WoW has gotta mean some decent savings there. And of course he's been getting all the government stimulus packages too.
They want him to move out. Their house is more than big enough for all of them, unfortunately, so I think they have buckleys to none chances of him moving out while he's at home in Chateau Le Parents.
Anyway, she was talking about just sneaking off and buying him a house - forging his signature came up as an option, apparently she's good at it - and then trucking him off to his very own new house. Personally I think THEY should sell their very big and very nice house, move out, and leave him there as some kind of human excess baggage for the new owner to forcibly evict.
He's eligible for the FHOG. He has savings. He's on a stable Centerlink pension and will be for life, if he manages to convince someone he qualifies for the disability pension (he's working on that one). He'd probably even qualify for a full-doc loan. No way in hell he's ever going to get a job. Parent pension is about $520 a fortnight + $250 or so in FTA/FTB, all tax free, probably a bit more than that nowadays actually.
Figures he'd be looking at to build and get the $25k grant would be $500 for the land, $75,000 for the house, $5,000 for tanks, $3000 for a septic install, and another few $1000 for electricity connection. Or he could just get a pre-loved house for about $50-80k locally or $110-120k in a different town. The FHOG + savings would make the deposit eaaaaaaaaasy.
So, would he even qualify for a loan for a house? Could she forcibly march him into a bank and get him to actually MOVE OUT into a house he owns? Or is swiping his ID and bank statements when he's asleep (which is all day most days) and doing it all for him even an option? When we got our loan we just faxed everything in and only talked to the broker by phone/email and never laid eyes on a Real Bank Person, which leads me to believe if the mother tried to do all this for him she'd probably be able to do it. Or just running the figures past a broker, knowing it *can* be done and then waving the loan offer under his nose might even make him do it himself ...