Mom is sick and has a reversed mortgage. Any advice?

Yes Garden Artist. The statement always comes monthly with the balance along with another paper asking if she wants to withdraw. Everytime I see the balance and that slip I just cringe. My mom was always stubborn. The house was already paid off. This house has been in our family since 1968 when her mom owned it. I guess I'm just numb right now. Since my mom's hospitalization everything is seems like a dream. I know I'm just a screen name but please keep me in your thoughts.

I’m going back to Garden first post..... if your name was on the deed &/or the title of the home as registered at the courthouse & reads as an owner as per tax bills at the time your mom did the RM, you would have needed to allow for the RM and sign off on documents related to the mortgage and ownership. If that didn’t happen, I’d get a real estate atty to challenge the validity of the mortgage. And perhaps also to position a lawsuit against the RM of taking advantage of a vulnerable adult as they should have done deep dive to know of your position in ownership and if anything was changed to your ownership position that’s taking advantage of a vulnerable adult.

Personally I think there’s at the edge of predatory lending for many RMs. 300k on a 600k paid off house. Sheesh.

It’s a line of credit RM, isn’t it? That’s what the monthly letters are about. They want mom to drain out the LOC.

Devastated, it's my understanding that anyone whose name is on the deed has to sign any mortgage. Was title held jointly at the time the mortgage was executed?

Does the $300K owed include the reverse mortgage, as amortized to date?

These are the first question to research.

You could only sell it if (a) both of you can execute the sale papers (b) your mother is still mentally qualified to sign, i.e., doesn't have diagnosed dementia (I'm not being cruel, just realistic). There might be Medicaid issues, but I'll leave that to people more qualified.

But first, let's focus on your mother and her hospitalization. What's the cause of it? What are her diagnoses? Has anyone told you that she may be facing end of life issues?

An INR of 8 is too high and will cause bleeding. If a person is on a blood thinner, specifically Warfarin, goal INR is usually between 2.0 - 3.0. A high INR can be treated with an antagonist (Vitamin K) especially in an ICU setting.

As far as giving the house up, that’s hard. But realistically the upkeep on a 50 y/o house can be costly, so sometimes giving it up is a blessing in disquise. 

Have you been in touch with the RM company at all? I wonder if they are still unaware that your mother was not the sole owner. If you haven't already, this point is definitely worth exploring. I suspect somebody has been too keen to sell your mother one of these flaming, wretched, Godforbidden exploitative financial products and perhaps didn't do enough checking.

Devastedmom12,
My now 83 year old mother moved in with myself and my husband June 1st of 2017. She had a reverse mortgage on her home in Illinois. I’m her POA, and I had no problem selling her home. I got a realtor and put the house on the market and my attorney handled everything else once we had a buyer. I did have to provide proof of my POA documents. But once I did that I was able to sign for her. The house sold in no time and the check was made out to my mother and given to me. This process was new to me and I too thought that the reverse mortgage company was just going to come in and take the house. But after talking with them on the phone I learned that they would much rather you sell it on your own and give them their money. They ready don’t want to be bothered with the process of taking it over and now having to sell it. I suggest you get a good attorney that can walk you through the process. My attorney made it all go so smoothly. God Bless, I hope everything works out for you.

Devestated, my husband's INR was 17 last year, for no apparent reason. As Shane says, they treated him with Vitamin K and a lot of kale!

Good thoughts to you and your mom.

Thanks guys for responding. I'm her only child and she is in the early stages of dementia. Her INR level jumped to 8 out of nowhere causing clotting. I love my mom and shes fighting for her life right now. She isnt on medicaid. Shes on medicare.This past year was really hard as her dementia progressed. Dealing with her dementia and my daughters disability was emotionally and mentally draining and now shes in the ICU. I've been getting statements monthly which shows the balance along with another paper asking if she would like to withdraw.

I'm assuming the hospital will use something like heparin or lovenox to bring her levels down. I hope everything works out all right for her.

I'm wishing the best for her, and peace for you and your daughter. This must be difficult for both of you.

I'm not sure I understand the monthly statements. From what would she be withdrawing? Do you mean the reverse mortgage company is asking if she wants to withdraw more funds, increasing the amount outstanding?

Hey guys just an update on my mom. She has a temp and pneumonia that just won't respond to antibiotics. She has paralysis on her entire right side and may not be able to walk if she recovers. This really came out of the blue. I monitor everything. As soon as I realized moms dementia was getting worse I put in for FMLA then decided to resign from my job to care for her. It feels like everything is happening so fast. I grown so accustomed to her being here and it hurts really bad. She is my bestfriend and I was devastated when dementia took the person that raised me but even more hurt now that shes in the hospital. I look back now and say I would much rather deal with the dementia than deal with her not being here with me. If I lose my mom and the house I know it will be hard for me. Not knowing where me and my daughter will go, being homeless scares me. She is my rock. Please pray for me. I'm scared and lost.