Posted on: 29th Dec, 2009 11:16 am
my question is this...My mom became widowed at the end of 2006...since then she has fallen behind badly...her taxes have not been paid in 2 yrs and the mortgage is now behind 7 months...her gas has even been shut off after a bill that had climbed to $5,000 her property is an apt bldg with 4 apts in it...which are not currently rented, because she was responsible for the gas for the building...I need to know what her options are, if any? I'm frustruated that she let things get this bad with out mentioning to anyone!Thank you so much!
Depending on how much equity your mom has and assuming she is 62 yrs or older, she maybe able to use a reverse mortgage to help her situation. There are no income or credit requirements with a reverse mortgage.
Hope this helps!
Hope this helps!