Reverse Mortgage icon
Reverse Mortgage

If you’re 62 or older – and looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses – you may be considering a... more
If you’re 62 or older – and looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses – you may be considering a reverse mortgage. It’s a product that allows you to convert part of the equity in your home into cash without having to sell your home or pay additional monthly bills.
{{answer.profile.locationStr}}
 {{ metersToMiles(answer._rankingInfo.matchedGeoLocation.distance) | niceDistance }}
{{answer.profile.name}}
{{answer.profile.title}}

Questions and Answers

Scot Cheben
Scot Cheben
Senior Advisor

There are a few ways of doing this. I'm not sure if you have friends or family nearby to help. If you do, I would recommend that they help you with a simple "garage sale". Have them separate the valuable from the not so valuable. Garage sales are not for big ticket items. Furniture, yes... more

We at Care Giving Answers strive to provide helpful and...  (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.
Chris Cooper
Chris Cooper
Private Fiduciary, Trustee,Conservator, Financial Advisor

In some states, you can be paid by Medicaid to provide home care services.  Also, you can be paid by Long Term Care insurance as long as you qualify as a Home Health Aide.  Check with your area agency on aging on Medicaid home care waiver programs.

We at Care Giving Answers strive to provide helpful and...  (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.
Scot Cheben
Scot Cheben
Senior Advisor

The answer is not so much a yes or no. It might be a strong maybe. There are several ways to get paid as a caregiver. Let me list a few and go into some of them for you...State run programs Long term care insuranceVA Benefits (Aid and Attendance)Drawing up a personal care agreement (Caregiver... more

We at Care Giving Answers strive to provide helpful and...  (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.
Chris Cooper
Chris Cooper
Private Fiduciary, Trustee,Conservator, Financial Advisor

Only if your father served in active duty in the military during time of war (even if he did not fight in the war theater, all he had to be is on active duty for 90 days during time of war) then he may qualify for Aid and Attendance benefits from the Veteran's Administration. Contact the Veteran's... more

We at Care Giving Answers strive to provide helpful and...  (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.
Admond Fong
Admond Fong
Senior Specialist

I'm sorry to hear about your father's situation, but there are some options you can explore to help your dad. I have a list of options below that you can research yourself with some website resources. 1) Veteran's Benefits for low income - if your dad served in the military during time of war, was... more

We at Care Giving Answers strive to provide helpful and...  (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.
Chris Cooper
Chris Cooper
Private Fiduciary, Trustee,Conservator, Financial Advisor

Yes, in some states you must list your home for sale and use the proceeds to pay for nursing home care. In other states, you can keep your home, but no income to maintain it and the State will place a lein on it when you die to pay back Medicaid. You are well served to contact an elderlaw... more

We at Care Giving Answers strive to provide helpful and...  (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.
Vanessa Terzian
Vanessa Terzian
Estate Planning Attorney

In California, you do not have to sell your home to qualify for Medicaid as long as you have an intent to return to the house. However, Medi-Cal (California's Medicaid program) can recover against your estate after you pass, including outing an estate claim against the equity in your home. You will... more

We at Care Giving Answers strive to provide helpful and...  (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.
Scot Cheben
Scot Cheben
Senior Advisor

I know that most people want to live in their home for as long as one can... Here are some things to remember about cost, housing, legal and home care. It sounds like you are leaving your home to your guardian that is taking care of you. Questions to consider is: Do you have the proper... more

We at Care Giving Answers strive to provide helpful and...  (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.