 Betsy and Chris Saunders, 78 and 76, lived in a house in Menlo Park worth $850,000. They had no debt, and were just getting by on $1,200 per month, when, tragically, Betsy was diagnosed with Alzheimer’s Disease, which progressed rapidly. When, as a result of her illness, Betsy came very close to burning down their home, it became clear that she needed more care than Chris could give her.
An Alzheimer’s facility cost $7,000 per month for Betsy’s round-the-clock care. This vastly exceeded their monthly assets. A reverse mortgage provided them with $380,000, which, combined with their income, made it possible for Betsy to get the care she needed, and for Chris to feel, for the first time in a long time, a sense of peace of mind and financial security. |
ReverseChoices@MaryJoLafaye.com
