Can we somehow get our names off and put their names on our mortgage.. I know it sounds weird but im desperate?

My wife and I purchased our home two and a half years ago. We lived here fine for a year and then decided to start pursuing a different career path. To do so we would need to sell our home and live with my parents for awhile. Well, it just so happened my parents liked our home so much they said they would buy it. So since they were renting at the time they suggested how about when our lease runs out we move into your home with you and sign a lease agreement with you guys. OK. No problem. Sounded like a great idea. 8 months into the whole thing my dad loses his job. He thankfully found another one quite quickly however he took a substantial pay cut. Now theyre so far in debt that they need to file a chapter 7 bankruptcy and they have trouble paying us the rent every month. Its the worst situation in the world. I love my parents and they have good intentions but they were guilty, like everyone else with a little money, in that they had spread themselves so far out that now, paying everything is almost impossible. The problem? The house is still in mine and my wifes name and were kinda worried about moving into an apartment in case theyre unable to pay us. I know I should be understanding and I do sympathize with their situation but its keeping my wife and I from persuing the family weve always wanted, and myself personally from persuing my career i went to school for (which where im at now there is no market for). They still want to purchase our home from us and all I want to do is get the stupid thing out of our name and into theirs. I dont want to make profit. I dont want anything out the deal. I just want move into our own place so that i can persue a career ive gone to school for, my wife could go back to school, and we may be able to start our family.

5 months ago - 4 answers