My parents plan on selling their house within the next year. My parents just want to break even when they sell the house, and said I should look into taking over the mortgage which is about $2000 a month.
I receive student loans to pay for housing, food, gas, etc. while I'm in school and I also work. I have good credit and I have 3 reliable friends willing to sign rental contracts in advance, with my income along with renting 3 rooms out, and student loans, I would have more than enough to pay for the mortgage, utilities, and my car payment, car insurance, and phone bill.
Is it going to be impossible to sign the mortgage over into my name? My parents own a vacation property so they just want to sell this house and buy something really cheap until they retire and move to the vacation property (and if they just rented the house to me, they wouldn't qualify for another mortgage).
Thank you so much in advance, let me know whatever details I need to add.