General Discussion

patrice

(47,992 posts)

57. Reverse mortagages will relieve her of the house-payment, BUT once she passes on,

Wed Aug 1, 2012, 09:09 PM

Aug 2012

depending on the size of the mortgage and the market for the house, if her children want to liquidate, they CAN end up upside down on the house, owing more than it's worth.

If the mother wants to leave her children something, she may not want to take this chance.

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I have some bad news... [View all] Drunken Irishman Aug 2012 OP

What a mess. NYC_SKP Aug 2012 #1

I was never even able to collect the measly death benefit when my father died SoCalDem Aug 2012 #5

That is an outrage. Not Me Aug 2012 #2

VERY sorry, Irish. elleng Aug 2012 #3

... Mnemosyne Aug 2012 #4

+1 freshwest Aug 2012 #14

I wish there was just a little bit of justice for those in your mom's situation sellitman Aug 2012 #6

But Mitt Romney can get a 77K tax deduction for his wife's hobby. nt valerief Aug 2012 #7

... puts it all mzmolly Aug 2012 #95

Oh my god, that's a nasty mess. HappyMe Aug 2012 #8

Thank you, Happy... Drunken Irishman Aug 2012 #26

I am so sorry to hear of your and your mom's plight twizzler Aug 2012 #9

That's part of what DU is for, I think. Giving its members a voice. calimary Aug 2012 #10

I don't even know what to say Marrah_G Aug 2012 #11

I'm not sure if your father fell under the ""Nehmer" claim kywildcat Aug 2012 #12

No country can be called "great" and -- Hell Hath No Fury Aug 2012 #13

Did your mom have unreimbursed medical expenses? pinboy3niner Aug 2012 #15

I was thinking along the same lines - is it gross income? or if there was some way to get the 10k Laura PourMeADrink Aug 2012 #24

Can be offset with out of pocket medical expense. lonestarnot Aug 2012 #75

I see you're on it here so. yeah. Hope he saw this. lonestarnot Aug 2012 #74

save every freakin' receipt cap Aug 2012 #114

DI, I hope you can get hold of the right people in Congress to address this. It is remarkable.... Tarheel_Dem Aug 2012 #16

Your mom is not fighting the VA... Aviation Pro Aug 2012 #17

Say it louder! lonestarnot Aug 2012 #76

Consider going to your local Congress critter's office. jerseyjack Aug 2012 #18

Precisely what I would recommend. Ednahilda Aug 2012 #50

write to the white house again - and write what is this shell game is doing to your mom.. riverbendviewgal Aug 2012 #19

also to members of Congress JI7 Aug 2012 #22

I am so sorry and angry KauaiK Aug 2012 #20

Welcome to DU Kauaik. Good 4th post. Auntie Bush Aug 2012 #83

Didn't your parents have life insurance on the mortgage? PADemD Aug 2012 #21

No. They didn't qualify for it. Drunken Irishman Aug 2012 #30

Some questions: cleduc Aug 2012 #23

Thanks for the reply... Drunken Irishman Aug 2012 #25

In response, cleduc Aug 2012 #41

If that bit about medical expenses being deductible is true then you might be able to swing it. JVS Aug 2012 #66

Thanks, everyone... Drunken Irishman Aug 2012 #27

In an election year, maybe a sympathetic ear in the media might help cleduc Aug 2012 #43

k&r.. spanone Aug 2012 #28

Your Congress Rep Is A Better Point of Contact. rsmith6621 Aug 2012 #29

You are in many people's thoughts (and prayers, mine included). sad sally Aug 2012 #31

so sorry to hear that, DI Whisp Aug 2012 #32

I won't offer advice - this isn't my area of expertise - hedgehog Aug 2012 #33

Try a contact to the First Lady who is interested in helping military families. nanabugg Aug 2012 #34

Stunned. Horrible thing to be happening. Horrible. Your story glinda Aug 2012 #35

Have you looked into one of those fundraising or change.com campaigns? BSUbluNorange Aug 2012 #36

I would take try to get some media coverage. grasswire Aug 2012 #37

Possible info link The River Aug 2012 #38

That really sucks. deaniac21 Aug 2012 #39

Stories like this make me wonder why anyone volunteers to fight malaise Aug 2012 #40

My brother is 100% disabled through SS. The state of Texas has it set that you make too much from Dustlawyer Aug 2012 #42

D*mn Irish...... a kennedy Aug 2012 #44

+1 grantcart Aug 2012 #46

I am so sorry. Paka Aug 2012 #45

A fundraiser could be a good idea... unclouded Aug 2012 #47

Research "reverse mortgages." savannah43 Aug 2012 #48

Reverse mortagages will relieve her of the house-payment, BUT once she passes on, patrice Aug 2012 #57

She owes too much on the mortgage to qualify... Drunken Irishman Aug 2012 #61

Send this to Ed Schultz and Rachel Maddow. w8liftinglady Aug 2012 #49

k&r... spanone Aug 2012 #51

I'm so sorry for her situation. Maybe she can get some sort of part time job? Honeycombe8 Aug 2012 #52

My mom has always been there for me and I'll always be there for her... Drunken Irishman Aug 2012 #62

Your mom quitting her job to care for sick relatives - that's my point. Honeycombe8 Aug 2012 #73

. Doremus Aug 2012 #64

Just being practical. Honeycombe8 Aug 2012 #71

You might call it practical, but I call it heartless juajen Aug 2012 #108

People have always taken care of their parents treestar Aug 2012 #111

It's a damn shame they make you jump through hoops. I know what you are going southernyankeebelle Aug 2012 #53

I'm so sorry. Please send this to Michelle Obama Rose Siding Aug 2012 #54

I am so sorry byoung6 Aug 2012 #55

Congress. did. this. patrice Aug 2012 #56

And they really don't care!!! nanabugg Aug 2012 #60

They really don't. Drunken Irishman Aug 2012 #63

It's ALL about numbers to some. Or some other ideological abstraction. Not human LIVES. patrice Aug 2012 #86

I can't even find words for the horror I feel for you and your mom. roguevalley Aug 2012 #58

I`m so sorry. democrank Aug 2012 #59

You are a dear soul DI, truly. JNelson6563 Aug 2012 #65

This is sickening... EmeraldCityGrl Aug 2012 #67

Is there a possibility that your congressman could help? Rhiannon12866 Aug 2012 #68

I am so sorry. Irishonly Aug 2012 #69

Very easy to say, "keep fighting", as she'd done that already... MrMickeysMom Aug 2012 #70

If anyone doubts that this country has a long way to go, they should read your post. colorado_ufo Aug 2012 #72

Now if everyone on this thread would give a pug a call. And we vote them all out Nov. lonestarnot Aug 2012 #77

what state are you in? Laura PourMeADrink Aug 2012 #78

I'm in Utah. Drunken Irishman Aug 2012 #82

ouch Laura PourMeADrink Aug 2012 #87

Post removed Post removed Aug 2012 #79

Excuse me?!? Drunken Irishman Aug 2012 #81

Yipes! If you are giving some advice Lifelong Protester Aug 2012 #84

You know, your tone is absolutely not necessary. Drunken Irishman Aug 2012 #85

Are you still here? Come back here you! lonestarnot Aug 2012 #80

have you been hitting the bottle before noon again? snooper2 Aug 2012 #107

Congress needs to raise the rate proud patriot Aug 2012 #88

For some strange reason, my S.O. is in no hurry to swap the green card for citizenship. DCKit Aug 2012 #89

One almost needs a lawyer experienced in thses matters to get thru the maze. Kaleva Aug 2012 #90

have you checked your PM lately? Laura PourMeADrink Aug 2012 #91

I'm so sorry DI RFKHumphreyObama Aug 2012 #92

I'm so sorry DI LadyHawkAZ Aug 2012 #93

My heart goes out to you mzmolly Aug 2012 #94

Reading this has saddened me deeply. I don't know what to say. Maybe secondwind Aug 2012 #96

Heartbreaking, just heartbreaking!!!!! mfcorey1 Aug 2012 #97

Wow. I hope something breaks for you & mom ProfessionalLeftist Aug 2012 #98

I am also sorry to hear about your mom's difficulty with the VA davidpdx Aug 2012 #99

wow this is very sad blondie58 Aug 2012 #100

I'm very sorry to hear about your family's troubles. yardwork Aug 2012 #101

So sorry to hear your having troubles. Feels like just about everyone I know is. raouldukelives Aug 2012 #102

We definitely need to change that disgustingly low pittance. Write to Michelle Obama. She cares and judesedit Aug 2012 #103

"The VA sympathized with her and said they wished there was something they could do" Leopolds Ghost Aug 2012 #104

Funny how shit like this rarely goes in our favor deutsey Aug 2012 #105

Can't add much to what everybody else here said but tblue Aug 2012 #106

I just wrote the White House, & dmr Aug 2012 #109

So sorry DI treestar Aug 2012 #110

Would it be possible for your Mom to convert her mortgage. . . Erda Aug 2012 #112

I'm so sorry to hear about this DI... Blue_Roses Aug 2012 #113