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[quote=Anonymous][quote=Anonymous]I'm basically trying to offer them a reverse mortgage without fees. Instead of a bank, they use us as a line of credit. If there happens to be anything left from the house, we would recoup. I'm not expecting that to be the case and essentially consider the money a gift from us, but just trying to document appropriately for transparency among siblings.

I agree there's a bigger conversation to be had. Perhaps they should not be in a house they can no longer afford to maintain. But I have no idea where they could go that would make more financial sense.

We're committed to helping. I'm just feeling a bit overwhelmed by this turn of events. [/quote]

Don't do this.

Figure out why they burned through their money so fast. Then figure out next steps.

Most affordable option would be to sell the house and move to a senior apartment complex, with you and your dh handling finances.

Sounds like there is a broke sibling in the mix? Don't give your in laws any money if there is, you could just end up subsidizing the sibling.[/quote]

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