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Reply to "Reverse mortgage? Or other options for FIL who is broke and terminally ill?"
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[quote=Anonymous]Well it seems as though OP should decide what works better for her. $1500 a month for 12 months would only be $18000. How much is she giving up in equity to avoid paying $18000 over the next year? Maybe OP doesn't want to stretch, or wants her dad to spend his own equity, and that's fine, but it seems silly to me to ignore the fact that they might pay $15-20,000 in fees to get a reverse mortgage-- that's probably more than it would cost to finance $1500 a month on her credit card.[/quote]
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