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Reply to "Helping my hopeless parents plan for retirement"
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[quote=Anonymous]In their 70s they shouldn't have a mortgage. How much equity do they have? I would advise them to downsize to a smaller single story home. This would solve many problems for them. This should allow them (hopefully) to live in a paid-off home and could age in place without having to renovate for any anticipated mobility issues. Not having a mortgage should also free up money for them to pay their property taxes too.[/quote]
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