I had attended one my my Chamber breakfasts this morning and I mentioned the difficulty that adult children are facing with their senior parents. As of this time, there are 20 million people that are either financially assisting their parents or doing some sort of care giving. And in many cases they are doing both.
This puts extreme pressure on the entire family and typically the one who is providing the care giving becomes quite ill within a year. The solution is to use funds from a reverse loan to pay for professional help and relieve the family of this hellish situation.
After the breakfast, someone approached me with this identical situation. The immediate family is overwhelmed, angry, in pain and suffering with guilt. The senior parents, well…they’re angry, too.
She said that she would pass on my name to her friend and hopefully she will contact me and if a reverse loan isn’t a solution, I can at least point them in the right direction for an assessment of the parents’ conditions and possibly have a professional care giver come in for a few hours each week and provide some relief for the family.
Great info Lorraine! The stress put on the whole family in this kind of a situation can be overwhelming. And letting people know that even if a reverse loan is not applicable that you could point them in the right direction is awesome! Keep up the good work! Shawn McCarthy Executive Director BNI
I agree with Shawn. Taking care of your senior parents is time, money and energy consuming. Even if reverse loan isn’t for everyone, pointing into the right direction is the best service anyone can get!!