Mom's vacation condo?

[ANONYMOUS]

My mom purchased a vacation condo and can no longer afford it. She has been divorced twice and is going for a third time. All of her assets were frozen and she has really bad credit. She has borrowed money from me and I do not want to borrow her anymore money. We are not able to sell the condo and paying the $700 per month for association fees and utilities is like a waste of money. How long does it take to get through a divorce? She owns the condo outright but it seems like no one wants to buy or rent it. We are in such a predicament.

 

[Monique]

How old is your mom? Does your mom have a divorce attorney....your mom should hopefully have an attorney and be consulting with her attorney on the divorce issue.

Those association fees are pretty high....wow $700 a month?!?

What you may need to do (unless your mom has dementia or something), allow your mother to handle her "business". You shouldn't try and take this on yourself, as it is not really your responsibility to take on. If your mom has bad credit, you can't do anything to save your mom's credit. You definitely shouldn't give your mom anymore more money. She needs to start making financially sound decisions.......and if others are helping her, she will never learn to stand on her own two feet.

You end up saying "we are in such a predicament".....when that is not true. It isn't "you" who is in a predicament. It is your mother who is in the predicament. My recommendation/thoughts are that your mother needs to seek financial counseling and have a professional look over her finances and help her make some financially sound decisions.