Needing a loan for a roof (which can easily cost well upwards of $10,000) isn't uncommon nor a reason to downsize. That's a big chunk of money. Taxes, on the other hand, should be able to be paid without a loan. If you need a loan for that, you can't afford the house. Does she still have a mortgage? If not, you could look into a home equity loan. Even if you're going to sell the house, you need to fix the roof.
If the roof has leaked and caused internal damage, that is an insurance claim. Insurance won't pay for the roof (unless it was damaged suddenly and not just old), but it WILL pay for internal damage to a home caused by a roof leak, which adds up quickly even with a small leak.
Best of luck! Sounds like you have a lot of decisions and action items ahead.
gina, I have always believed that if one needs to borrow money to help repair a house or pay taxes, it is time to downsize into something more affordable. Today it is the roof, next month it could be the plumbing, or some appliances need replacing.
If your Mom is currently living in a nursing home since August [as per your profile], that tells me she now needs a village to help take care of her. I assume she is on Medicaid [different from Medicare].
Thus, if you bring Mom back home, you would be doing the work of 3 shifts of caregivers, thus a village of one. And since Mom needs a loan for taxes, that tells me there wouldn't be enough to budget for professional caregivers to come in to help you care for Mom.
1. Banks might not easily grant a loan to an 80 year old woman unless she had significant collateral.
2. A bank might grant a loan to her and you jointly, but one of you would have to have collateral. And 3. below would have to be in place.
3. If the deed is titled in her name only, that would be a concern for a bank, especially if you co-signed a loan but had no vested interest of record in the home.
I think the first issue though is to seriously consider bringing her back home. How long has she been in a facility? Your profile indicates she has a variety of medical issues. Was she able to live in her home alone before she resided where she apparently is now? Would you be living with her?
4. Another option might be to explore various levels of assistance:
a. Some counties have low interest loans. Ours does, and helped a neighbor with a home improvement loan. However, the contractor wasn't very professional, was actually not very competent or safe, and provoked a police response when he trespassed on the lawn of a hot headed neighbor who was obsessed with a manicured lawn and came out with a pistol directed toward the contractor. I learned a few years after that incident that the contractor committed suicide.
b. Habitat for Humanity, some Methodist churches, and Christmas in April provide free assistance to people in need.
c. Some communities get HUD grants which also provide assistance, for emergencies.
5. I don't know of any organization that helps with unpaid taxes. How far back are they delinquent? That might be a condition that discourages anyone from helping if there's a possibility the house might be subject to confiscation by the community for back taxes.
It's really sad that some people are in need of funds, but they may be in short supply, especially when so much money is wasted on the federal level.
If the roof has leaked and caused internal damage, that is an insurance claim. Insurance won't pay for the roof (unless it was damaged suddenly and not just old), but it WILL pay for internal damage to a home caused by a roof leak, which adds up quickly even with a small leak.
Best of luck! Sounds like you have a lot of decisions and action items ahead.
If your Mom is currently living in a nursing home since August [as per your profile], that tells me she now needs a village to help take care of her. I assume she is on Medicaid [different from Medicare].
Thus, if you bring Mom back home, you would be doing the work of 3 shifts of caregivers, thus a village of one. And since Mom needs a loan for taxes, that tells me there wouldn't be enough to budget for professional caregivers to come in to help you care for Mom.
Lot of food for thought here.
1. Banks might not easily grant a loan to an 80 year old woman unless she had significant collateral.
2. A bank might grant a loan to her and you jointly, but one of you would have to have collateral. And 3. below would have to be in place.
3. If the deed is titled in her name only, that would be a concern for a bank, especially if you co-signed a loan but had no vested interest of record in the home.
I think the first issue though is to seriously consider bringing her back home. How long has she been in a facility? Your profile indicates she has a variety of medical issues. Was she able to live in her home alone before she resided where she apparently is now? Would you be living with her?
4. Another option might be to explore various levels of assistance:
a. Some counties have low interest loans. Ours does, and helped a neighbor with a home improvement loan. However, the contractor wasn't very professional, was actually not very competent or safe, and provoked a police response when he trespassed on the lawn of a hot headed neighbor who was obsessed with a manicured lawn and came out with a pistol directed toward the contractor. I learned a few years after that incident that the contractor committed suicide.
b. Habitat for Humanity, some Methodist churches, and Christmas in April provide free assistance to people in need.
c. Some communities get HUD grants which also provide assistance, for emergencies.
5. I don't know of any organization that helps with unpaid taxes. How far back are they delinquent? That might be a condition that discourages anyone from helping if there's a possibility the house might be subject to confiscation by the community for back taxes.
It's really sad that some people are in need of funds, but they may be in short supply, especially when so much money is wasted on the federal level.
You also say Mum has many medical issues, how are you as a single person with no support going to provide the care she needs?
I am sorry but I see lots of red flags here. Far more than a leaking roof and unpaid taxes.
How is Mum's nursing home being paid for? What income do you have?