Mom has Alzheimer's. I take care of her in the house we've had since I was 5 years old. Can anyone advise on her reverse mortgage?

Thank you both. I can see that this is a complicated scenario. I so appreciate the time you took to answer me.

Akaheba, reverse mortgages can become very complex if the heir want to keep the house. Does the $290k owed to the reverse mortgage also include the "interest" and the "fees"?

How much of the equity taken with the reverse mortgage does Mom have left? Why I ask is that eventually you will need to hire caregivers to come in to help you because it will become 168 hour week job that one person cannot handle, unless you have a lot of help from friends and relatives.

There could also come a time that Mom may need to go into continuing care. If that happens, most reverse mortgages allow the loan holder one year in case the loan holder is able to return to the house. Now, if your Mom should pass, then the reverse mortgage becomes due and payable immediately. They do give you a certain amount of time to refinance or to sell the house. One has to read everything on the mortgage note.

Glad you are seeing an Elder Law Attorney, they can unravel the complexities of these mortgages.

You would have to repay the loan. If sold, anything over and above the loan amount would go to mom for her care. Definitely get with an elder law lawyer. You may have to buy the house at market value from mom if Medicaid will be a consideration.