I have an elderly client who obtained a non-recourse reverse mortgage to pay for her care. The funds have lasted several years but now she is almost out of money and needs to borrow more to continue paying for in-home care. She still has substantial equity in her home but not quite enough to qualify for a refinance to a new reverse mortgage to get more money for additional in-home care. She is looking for a private investor who may want to buy her home and give her a life estate. Do we have any real estate professionals here with a buyer? She is conserved.
Nov 01, 2024