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I am 70 years old taking care of my mother who is 88. I have…

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My name is***** am...

My name is***** am 70 years old taking care of my mother who is 88. I have a mortgage of 50,000.00. I live in a very rural town of 320 residents. My mother and I probably will not live long enough to pay the house off. I only have my SS and a part time job, 25 hours a week that pays 8.00 an hour. I have a pension paying for the house now, but if I could pay off my house with a grant then I could take that pension with my SS and probably have a better life. My house payment is 694.28 and my pension is only 708.00. I need help. What do you suggest.

Accountant's Assistant: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

I don't know; I don't know what he needs.

Submitted: 10 months ago.Category: Finance
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Answered in 2 hours by:
11/17/2017
Financial Professional: Curtis Mathews, Financial Advisor replied 10 months ago
Curtis Mathews
Curtis Mathews, Financial Advisor
Category: Finance
Satisfied Customers: 0
Experience: Owner at Self
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Hello Kathy, My name is ***** ***** I will attempt to offer some ideas for youi ?I will be back in a few minutes after I review some information.

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Financial Professional: Curtis Mathews, Financial Advisor replied 10 months ago

My first reaction is to suggest that you contact a firm that does reverse mortgages. This may allow you to get out of the mortgage payment completely and use the funds for other living expenses

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Customer reply replied 10 months ago
I have thought about reverse mortgages, but different people have told me pros and cons about it. I don't understand it and I really can't afford your service. I am so sorry, but when the computer told me about your services costing money that I don't have I just stopped. I know you have to make money, but I just can't afford it. Thank you so much.
Financial Professional: Curtis Mathews, Financial Advisor replied 10 months ago

I wish you well. A reverse mortgage does in most cases involve considerable fees. Some of those are cash upfront. You must choose what is best for your situation.

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