A resource for San Diego families caring for loved ones with Alzheimer's Disease and other forms of dementia
Friday, April 4, 2014
Adult Care Financial Planning - Reverse Mortgages
Today’s post is part of a monthly series by Deborah Higgins, President of Higgins Capital Management, Inc., on adult care financial planning.
By Deborah M. Higgins/President/Higgins Capital
As you continue in your role as caregiver in 2014, don’t forget to look at all options to help with the costs of care. Many older individuals own their home outright, but have little money available to pay for their health costs. Consider whether a reverse mortgage would be the way to go in paying for at-home medical care or other expenses you are facing in your role as an adult-caregiver. I helped my mother set up a reverse mortgage on her home many, many years ago “just in case.” It has never been tapped, but it’s there if the need materializes.