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Eldercare
Reply to "Elderly in-laws refuse to sell house that needs $200k of work, are out of money, can’t get loan"
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[quote=Anonymous]I would think about doing some kind of cash for equity in the house exchange. I understand why you don’t want to do it, but honestly selling a house (especially an as-is that will be torn down) is not that much of a hassle. You just need to instruct a realtor. I agree you should do nothing that jeapardizes your own financial situation, but this would get you an asset in exchange. And washing your hands of the situation may prove untenable. We had to do something similar to bail out my inlaws - we gave up our interest in a family trust so they could close it down and get the cash. In exchange we made them put the house in a trust which we are administering for their benefit (so we don’t have to bail them out again).[/quote]
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