Hmmmm...wonder why he thinks it's a bad idea for you to buy him out?
Possibilites:
1) It would leave you cash-strapped with a large payment and no liquid funds (very fair - this is why it usually isn't such a great idea for the wife to keep the house).
2) You wouldn't be able to qualify for a new mortgage in your name only and he wants the kids to be able to stay in their old neighborhood for now
3) He thinks the value of the house is going to increase and doesn't want to let you buy it from him at its current depleted value.
Which of these do you think is the answer? How much is the house worth and what do you owe on it? Could you afford the payments AND repairs?
