Reply to Elderly relative hiding $$ in the freezer

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]She's this fussy and she has a VARIABLE RATE mortgage? I'm not buying this. [/quote]

Somebody might have assisted her with mortgage processing, I helped my elderly mom to get a car loan. It's all online nowadays. If she's so cash based, she probably doesn't use credit cards much for her daily expenses, so mortgage would be her only obligation.

I think OP should help with methods described above (just don't put her SSN on any transactions and keep them low under 10k). [/quote]

Why would someone have assisted her in getting a variable rate mortgage when it was crystal-clear that rates would be rising? Still not buying it.[/quote]

High interest rates don't stay long: 7/1 ARM is cheaper vs 30 years fixed. If someone expected to repay the mortgage in less than 7 years and knew about cash resources it's not unusual. So is unusual for elderly people to have cash instead of keeping money in banks. SS and Medicaid benefits eligibility is one explanation[/quote]

Pardon, I meant to stay not unusual. And 100K is not a mafia type cash[/quote]

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