Quote:
Originally Posted by tonypeoni
Well lets see here... #1 They are leaving me NOTHING #2 They left nothing to their kids. Now they want more money!! Im sorry but these are the same people that would tell you get lost when you asked them for $1000 help you buy your first house. The same people that would give your kids a card with a $1 bill for their graduation.. They went on vacations, lived life, drove Cadillac's ect. Now they want money from me?
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No, this is not a reverse mortgage problem. It's an "expectation" problem...on both sides. A family issue, not a financial one.
My parents have a reverse mortgage that was taken out before the real estate bust in 08. As such, they get a liveable monthly check in addition to social security. Never were wealthy people...always pinched pennies. Because of the reverse mortgage, my sister and I provide little support. Without it, we'd be writing checks monthly.
The only thing we do is split the cost of 3 months in Florida during Michigan's worst weather (Jan, Feb, Mar). They're in their 80's. Will we receive an inheritance? No, of course not. Don't even think about it. Glad they're reasonably healthy and mostly self-sufficient. The best gift I could hope for.
A matter of expectations...