Long story here -- I'm a fairly new conveyancer and I recently bought a modular home with my mom. My mom has recently been discharged from bankruptcy so there was no way she was going to be approved for a mortgage. She came up with most of the down payment (she put in $22k, I put in $5k) and "gifted" it to me so that I could get approved for a mortgage. We bought this place so that she could have a place to live comfortably and not have to work herself to death. She s almost 60; has severe arthritis in her hips, shoulders, and neck; and she does housekeeping 3-4 days a week to make ends meet. Anyway, deal closes and my mom and I are ecstatic. However, the park landlord will not let anyone who is not a registered owner live in the park unless it's for caretaking purposes. I don't know what I can do. My mom won't be approved for a mortgage and she needs a place to live in the meantime. I doubt this is possible, but is there any way I can add my mom to the mortgage AND be her guarantor? To elaborate, I would still be taking the full risk (being on the mortgage myself and also covering her liability) and it would just be so she could be added as an owner on the MHR. I know it's up to the bank whether they would be willing to do that--but, legally, is it possible? If not, is there ANYTHING I can do? Please help!
Read more: https://allmortgage.net/forum/can-one-mortgagor-also-be-a-guanator-for-another.html
