conversation: User (SirShootsAlot): "My grandmother was recently diagnosed with advanced lung cancer and will only be around for the next 12 months tops. She's currently at a long term care facility. My aunts and I pulled all the money out of her RM. \n\nThe house is worth roughly 300k, and it's located in one of the most vied after tourist spots in the country (in Massachusetts). Housing here is incredibly hard to find, and what is put up for rent/sale is quickly taken faster than most locals are happy with. I've grown up in this house since I was a baby, spending more time here than anyone else in the family save for my grandmother. \nI'm only 21, have a fantastic FICO score, and have been out of work for the past 6-8 months. I have also been a full time student during this time. EDIT; I am about to get a job at a local CPA and am in my last semester of school. Family and friends removed from this side (my grandma and her kids) of my family have brought up to me that not only could I save this big chunk of personal history in the house, but that there is possibly a large opportunity sitting in front of me (as in renting out the house, especially in the summertime). All of my grandmas children live +300 miles away and don't have the time to maintain a home that far away. The line of credit my grandmother took out was about 160k\n\nWhat do I have to worry about in this pursuit? \nWhat would be the main financial bulletin points/requirements of me undertaking this responsibility? \nWhat is the lowest interest rate you think I could get if I wanted to finish repaying the home in 10-12 years? Thanks for your input.\n\n"
  Self: "You need a job making at least $100K to come even close to being able to pull this off. "
  User (SirShootsAlot): "Why is that?"
  Self: "Because otherwise you can't afford a $300K house."
  User (SirShootsAlot): "The house relatively pays for itself. "
  Self: ""The house pays for itself" is not an answer that banks accept when they ask you how much money you make on a mortgage application. "
  