/biz/ - Business & Finance

We are in a tight spot, and I need some advice regarding our family home. I am near Toronto.

The house is my dad's it's currently worth ~860k, he currently has ~100k left on the mortgage, and the rate is 2%.

My dad has several health issues, and is due to retire in 3-4 years, but I think he'll be forced to retire sooner. Also in 2 years we are due for a mortgage renewal which will bump our rate to 6%.
Our family lives tight as it is, and I don't think we'd be able to afford that.

We always lived paycheck-to-paycheck but good lives, my dad makes around 50k, I make ~110k and give him 1k a month for rent (have only started earning in the last year out of college). He doesn't have any retirement or savings/investment.

What should we be doing? I have a total of ~80k between stocks and crypto, but can't outright pay the mortgage in full to the banks, they only allow a max of 10k a year surplus.

Should we sell this house, and get something in the range of ~600, and I'll put the rest into dividends/stocks for my parents to use in retirement. It is a big house, and all my siblings left. Just me (and my girl when we get married) live in this house, and we will stick with them going forward.

I will also go to a realtor/financial adviser to get some more advice on what to do, but thought I'd here out the biznezzmen here.

Also, I could take over and just keep paying the mortgage on our current place, but again, I want my parents with some money for cushioning.

>>57440411
It'll never be enough.
Any amount that I accumulate I will consider to be Fucking Nothing.

What should be done about real estate agents?