Anybody with Reverse Mortgage experience?
Roberta_z5
17 years ago
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quiltglo
17 years agolast modified: 9 years agoRelated Discussions
Don't understand reverse mortgages
Comments (19)Ken, I think that you are totally misunderstanding my point of view. First of all, I never got the impression that Cube's dad owned his house fee and clear. She said that he said, Âbut the house and car insurance snuck up on meÂ. I took that to mean house payment, although, it could have meant homeowner's insurance, or real estate taxes. I don't know. But I assumed that he did not own the house free and clear. Also, I could care less about the inheritance. I don't care if I inheret a dime from my relatives, and I guess that I make the presumption that others don't care either. My concern is what is best for Cube and her dad. Sure, she could continue to supplement his income, and write IOUs, but that really is not what's best, because Cube is planning for a layoff, and the money simply will not be there for her to give to her dad. You can't give what you don't have. The RM is a possible alternative, but I don't think it's best for Cube's dad, mainly because, as you said, he may have another 20 years of living to do. That RM is gonna come due eventually. Or, he will tap it out, and then, how will he pay for his living expenses? As stated above, my opinion was not based on the fact that the RM would prevent Cube from obtaining an inheritance. My point was, the best way for Cube to help her dad out of this situation, which she feels a moral obligation to do, is to help him to not spend more than he earns. I'm sorry that you feel that that would be "treating him like a child." But, I disagree. My grandfather does not feel like he is treated like a child. My mother does not insist that he hand his money over for safe keeping. He willingly gives it to her and asks her to hold it (because he is well aware that he is not good with money,) so that if his cars breaks down and cannot be fixed, he can purchase a new one. And, I'm not talking about huge sums. Currently, my Mom is holding $3000 for my grandpa, and that is his entire net worth. In the case of my family, this is not an inheritance issue, it's a looking out for one another issue. No one has $3000 to give to grandpa, but my mom can help him be prepared in case an emergency pops up and he needs money. Perhaps the term "allowance" makes you think of a child. But many adults put themselves on an allowance. It's just the amount of money that they have to spend each week (or month) after they have met all other financial obligations. Call it something else if you like. And, I never called anyone "money stupid." I don't like the term "stupid." But, I would not equate someone who is not good with money with someone who has different money priorites either. Someone who has different money priorities is not necessarily someone who cannot meet all of their financial obligations. Do you see the distinction? I think Anita's last paragraph is a very good suggestion, IF it's even possible for Cube's dad to downsize....See MoreAnybody have experience with Sharkbite connectors?
Comments (49)We had a plumber come out to give an estimate to fix a leaky toilette and a leak in a basement ceiling. He wanted $1,100 to fix two leaks with the toilette being about $400. I did get some lower offers for about $300 to $400, but even at that, I have several more things to fix and at that rate it was going to be pretty costly. And I've read some other people's here and their prices are pretty high. Like $180 for ONE outdoor faucet. Before trying shark bite, or gator bites, I taught my self to weld pipes with a torch and solder etc. I did a couple and was pretty proud of it and saved like $400 for a water heater pipe repair. The reason I didn't try the shark bite at that point is that I couldn't find them near by so tried using the torch that time a year back or so. But now this week I noticed shark and gator bites at Lowes and Home Depot and decided to try them out. I had to go to both stores since some parts were sold out. I used it to replace the outdoor faucet with a washerless, ball faucet in the front of the house And was amazed. IT WORKED! And even though I knew how to use a torch, felt like it was easier. Besides I would have had to put something flame retardant in the basement to weld because there are wooden beams there. Or at least spray with water. But now I didn't even have to worry about it. I only had to cut the pipe in the basement, and use a gator bite coupling and push the two pipes together. Then I did the same for the faucet by screwing it onto a shark bite part and then pushing it onto the pipe. It was easy. I was worried about it leaking, but I've checked and no leaks. Not even a drip. Nothing. It sealed perfectly. Now tomorrow, I am going to replace the other out door faucet on the back of the house. No more miserable, leaking 20 year old faucet. And now I have 3 or 4 more repairs I've been putting off all lined up. Over all, I like Shark Bites. You can also get Gator Bites at Lowes or other places....See MoreHis name is on the mortgage...and I want him out
Comments (47)Maybe I will change my mind in the future, but for now I will move forward with the "what's mine is mine, what's yours is yours" attitude. There are NO garantees in life. I never want to be legally bound to anyone ever again...by marriage, real estate or otherwise. My current husband was the same way. He never wanted to marry again. Eventually, when the hurt wears off you too may change your mind. These days, to even last 10 years is against the odds. A lot can happen in 10 years, people change, married or not. Hopefully, you won't lose a lot & hopefully you can recover from this financially. Hi, OP here. My apologies. ItÂs my fault the topic diverted. I honestly did not mean for this topic to go the way it has. Waking up this morning and reading the latest input, taking in everyone's views on marriage / non marriage. There is a lot of great feedback. No one knows what happened with your relationship, hopefully not being married will be to your advantage. I am 3 times married myself, 1st time too young, 2nd too blind, 3rd much older & wiser. I've seen a lot in my 40 years, people change whether you have that piece of paper or not. Trying to work through things depends on what the situation is. Should I have tried to work out marriage 1? No. Marriage 2 - staying wasn't an option - verbal abuse turned to physical abuse. Currently 8 years that I'm with my husband. He's a good guy, more so then my other choices. He has his moments, some how we've worked through some really rough times. It wasn't that piece of paper that made me stay, being disabled & having no income has made me stick it out. After almost divorcing a few times we're doing really well. It isn't at all clear to me how the OP would be in a better position if she and the BF had married. If anything, their finances would be even more entangled. I have to agree. Divorce #2 for me was costly. Doing a google of Connecticut divorce law, it may be to the OP's benefit that she was not married... Division of Marital Property - Connecticut is referred to as an "all property equitable distribution state." In Connecticut, the Court has the power to "assign to either the husband or wife all or any part of the estate of the other." Conn. Gen. Stats. § 46b-81. Any property, therefore, regardless of when or how acquired, can be re-distributed by the Court. Conn doesn't recognize common law, so that's a plus. I'm interested to hear what the attorney says. Here is a link that might be useful: Connecticut Divorce...See MoreMy Mortgage Company Neighbor... and the odd stuff it does.
Comments (19)There was never any indication of foreclosure and the house has not been put up for sale. It will be interesting to see how this plays out. The brother and sister, aged 98 and 94, were taken out of the house against their will. He had advanced cancer and she was legally blind and was trying to take care of him in this 3 story house with just one bathroom on the second floor. He could not get up or down stairs. and she, a tiny thing at 4' 7" and 75 pounds, could not care for his needs. A visiting nurse was the one who did what was necessary to get them out and into a nursing home. He died within a month and she lasted less than a year. She was a sweetheart, he however was not. The family said it had nothing to do with his age, he was spoiled by his mother and was nasty and arrogant all his adult life. His massive collection of antiques included some ancient Chinese vases, etc from the 14th century . Yet all the collection was stored in an old run down mansion that he rented. The 18 rooms were filled with all kinds of valuable pieces collecting dirt just piled around in no organization with just narrow paths to get through. It was unbelievable to see what was there and the way the two of them lived at home in virtual poverty. Home was a large estate that was sold of an acre at a time in order to support his habit. Ours was the last lot sold....See MoreChemocurl zn5b/6a Indiana
17 years agolast modified: 9 years agojannie
17 years agolast modified: 9 years agopamghatten
17 years agolast modified: 9 years agojoyfulguy
15 years agolast modified: 9 years agoemma
10 years agolast modified: 9 years agojoyfulguy
10 years agolast modified: 9 years ago
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