Other threads I found were overly "old" to reply to, sorry. My cornucopia runneth over with money matters this week. I lost the locking lid to it Sunday.
My DW's 80 year old aunt is still very spry but she seems to be within $100 dollars of choosing which brand of cat food to dine on. She has no children to help with bills, we have tried to make sure she has the necessities but she doesn't always willingly ask, and we are not near enough to check often.
She has $900 SS per month and some very small pension that I'd guess was less than $200. She has a paid-off home worth $150,000 and likely less than $500 in the bank.
Is a reverse mortgage really as bad as I think it is? And especially in this situation? She has no heirs. I could see this woman living to 100.
My DW's 80 year old aunt is still very spry but she seems to be within $100 dollars of choosing which brand of cat food to dine on. She has no children to help with bills, we have tried to make sure she has the necessities but she doesn't always willingly ask, and we are not near enough to check often.
She has $900 SS per month and some very small pension that I'd guess was less than $200. She has a paid-off home worth $150,000 and likely less than $500 in the bank.
Is a reverse mortgage really as bad as I think it is? And especially in this situation? She has no heirs. I could see this woman living to 100.
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