Recovery4Me
VIP Member
@anthony
I do not know if you have this in your country so I am offering the data. In the US, reverse mortgage is available for those in such a situation (the spare 100,000 done). He would not be spending his money, his Mom would have the cash needed from the home (and still be able to live there during her life time) and he could live elsewhere while a licensed care provider assisted Mom...worry free. After all it would be her assets taking care of her needs with no loss due to taxes after the sale.
http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/hecm/hecmhome
Home Equity Conversion Mortgages for Seniors
I do not know if you have this in your country so I am offering the data. In the US, reverse mortgage is available for those in such a situation (the spare 100,000 done). He would not be spending his money, his Mom would have the cash needed from the home (and still be able to live there during her life time) and he could live elsewhere while a licensed care provider assisted Mom...worry free. After all it would be her assets taking care of her needs with no loss due to taxes after the sale.
http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/hecm/hecmhome
Home Equity Conversion Mortgages for Seniors
