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She does have a Long Term Care policy that only covers a fraction of the daily cost. She also has a pension. She took out a reverse mortgage but there's only $100,000 left to access. She does have equity in her home but her total reverse mortgage with the equity line she's accessing is $400,000. I don't know the rules of reverse mortgages. Can she refinance? If she can't access equity in the home or can't refinance the reverse mortgage, are there suggestions other than a skilled nursing facility? I need some assistance. I'm her niece and POA. Any help is really appreciated. I'm checking out skilled nursing facilities and possibilities of selling her home, but I know she'll fight me on it. Thanks for your help.

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We are also coming up on the same money mark. Looking for facility in $5500 range to stretch money and then use house proceeds for the one year private pay NH situation if we get to that point. I hope nature takes that decision out of my hands.
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Depending on her needs, you might check into AL or Memory Care. Both are generally much cheaper than SNFs. Then the money will last longer. You can tour them in advance and take her along after you find some you like. They should offer a nice lunch along with the tour and make her feel very welcome.
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You are POA, is aunt competent? See her attorney to learn your responsibilities and ideas for moving her. An elder law attorney, definitely.
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mafinflorida, when it comes to Reverse Mortgages, it can become a maze. You would need to read over your Aunt's mortgage to see what she can and cannot do regarding refinancing, etc.

Now with a Reverse Mortgage, your Aunt got funds, those funds would need to be repaid along with interest and fees. So the amount that Aunt borrowed would have a much higher repayment. Unless the interest was removed prior to funds being distributed.

I really doubt that your Aunt could refinance at this point in her life. Usually one refinances to lower their interest rate.

I see your Aunt has Long Term Care coverage, check to see how that would work if your Aunt went into a skilled nursing facility.

Also, I would highly recommend you talk with an Elder Law Attorney, to get his/her recommendations on how to deal with this matter. Whether to sell the house, or not, etc.
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Wouldn't you have to sell home anyway? I really have no answer for you. Reading all posts and looking for my own solution. Good luck
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