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Reply to "Has anyone figured out an alternative to a reverse mortgage for a cash strapped parent?"
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[quote=Anonymous]If 30k will satisfy it I'd just ask my siblings to chip in pay it all together, and then inherit the house free and clear eventually. This is assuming he's not a crazy spender who will get into more debt but that doesn't sound like the case. Or you all could loan him the money, but at the most favorable terms possible and knowing you'll never evict if he doesn’t pay you. And you can tell him you'll only do that if he'll raise the rent on his tenant to a reasonable amount ideally enough to cover his monthly payment to you.[/quote]
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