Reply to It's me - the DIL with the in-laws and drama around their cabin.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here -

DH's family is a mess. FIL pitched selling their primary residence undervalued as a benefit to BIL/SIL but never ended up moving out. BIL/SIL cared for FIL as he was on hospice and now care for MIL as she's still not in AL. They've had to take time off work; it's been a considerable expense and time suck for them. I check in on MIL during the day as I am self-employed and bring her lunch. DH works 4 AM - 4 PM and visits on the weekends.

[b]SIL floated the idea of a HELOC (or a reverse mortgage) [/b]to pay for MIL's care. The suggestions on this thread make it very clear that the cabin needs to be sold—end of story. I am not going to entertain this foolishness anymore.

The challenge is that DH's family is so emotionally attached to the cabin on a sentimental level that they will fight and argue about it.[/quote]

The entire time I've been reading this thread, I kept thinking SIL means a reverse mortgage, not a HELOC, but somehow I doubt she understands those are very different things. She doesn't sound financially literate, ya know? But here's the thing: if she goes in asking for a HELOC, no one is going to hold her hand and say "actually, what I think you want is a reverse mortgage," and save her from making an enormous financial mistake.

OP, I feel for you. What an eff'ing mess. I agree with everyone else here that your DH needs to wash her hands of this cabin ASAP. If his siblings refuse to sell it, he has to have enough backbone to say "No, I will not be part of this."[/quote]

I just posted that I don't think a HELOC is possible. And neither is a reverse mortgage (based on my basic googling) because the  mortgagee has to be living in the house.[/quote]

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