BarbBrooklyn Posted December 2021
Family Reverse Mortgage
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I came across this article about family-funded reverse mortgages, also known as caregiver loans.
https://www.latimes.com/business/realestate/la-fi-harney-20150503-story.html
I'm thinking that some might find this a useful way to keep parents at home if there are uber-solvent family members and lots of equity in a property.
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2 Comments
Geaton777 Dec 2021
Barb, very interesting. Thanks so much for sharing it!
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CaringRN Dec 2021
My Mother & Aunt desired to remain in their homes as they aged. My husband & researched how to make this possible. We spoke to my Mother & Aunt about obtaining a Home Equity Line of Credit(HELOC) & they were able to pay for caregiver expenses using the HELOC. Also, they saved themselves the cost of the exorbitant fees charged by the reverse mortgage companies.
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