Financial Aid & Additional Asset - Please help!

thumper1
Mon, 28 Apr 2008 20:49:46 +0000

We currently pay 4k for our current home mortgage every month.>>




Are you serious? You said your parent’s income is $80,000 per year. $4k per month would be $48K per year which is either at or more than the take home pay for an $80K salary.

Honestly, it sounds like you are real estate rich and cash not so rich.

Can your family really add another $1000 per month onto their payments? How will they qualify for another mortgage with payments already so close to their take home pay? That would make the total $60K which I am well sure will be in excess of what they take home if their total salary is $80k. Something doesn’t add up here.