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Eldercare
Reply to "WWYD - bankrupt IL"
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[quote=Anonymous][quote=Anonymous]I’m an only child. Selling the house will not net enough money to live out their life and it will cost you more in the end. $70k left on the mortgage? Unless it’s a very low rate, pay it off. If needed, have the relative transfer the house to your spouse and they pay utilities from SSI. Pay for regular maintenance of the house so you can sell it when they die. [/quote] At the very least, keep the mortgage payments current, keep it out of foreclosure. If you do that, make sure the house is going to you when they pass away. You don't want them to leave the house to their nurse or to the cat or something annoying like that.[/quote]
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