QUESTION
Mom can no longer afford her bills. She has a reverse mortgage, but is upside down.
Asked on Dec 09th, 2017 on Elder Law - California
More details to this question:
If we quit paying on her cards and loans what will happen? She is in early stages of Alzheimer’s and needs 24 hour care, which is what is using up her money.
1 ANSWER
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If she has a reverse mortgage, she shouldn't have a mortgage payment.
If you stop paying on her credit cards, she may be sued for the bills and have a judgment against her.
If she has no credit and mounting bills, of course she goes deeper and deeper in a hole. Someone has to pay for her expenses.
The bigger concern that I would have is paying for her medical costs and care. Does she receive Medi-Cal? Is she eligible for other needs-based assistance, such as SSI?
Answered on Dec 10th, 2017 at 7:27 PM