While some time ago, my mother had a blood pressure at its highest of 190/110, last week it dropped to perhaps 120/60. Four different blood pressure medications combined could do that to you I suppose. I, and the specialist who is treating her, conclude that her blood pressure doctor was mistaken, to say the least.
She has spent the last week, until tomorrow, resting in a local public hospital while her blood pressure and borderline diabetes is sorted out. We visited her last Sunday and she was unbelievably bright and happily held court to anyone who had the stamina. While she has been a bit bored at times, she seems quite happy to stay in hospital. But tomorrow they will discharge her.
It was a bit hard to get her admitted, but once she was, she had the best of care in our mostly wonderful public health system.
My step father is 80 years old and must still do odd jobs to supplement their pension. My mother would prefer him to stay at home, but they would really struggle without the extra few dollars.
But things are not good. Mother has heard about reverse mortgages and so there goes our inheritance. She wants, and needs really, some new weatherboards on her house, outside repainting, a new lounge suite, washing machine, bed, carpet clean, couple of light fittings and a car.
We calculated the amount to about $20,000.
I have done some research on reverse mortgages, or equity loans. Choice did some research last year and sister is going to look at it as she is a paid member. I would only feel safe with one of the big banks.
From what I calculate, she could probably have about $70,000 if she wanted, but I dare not tell her that. Her wardrobe will be full of expensive shoes again.
One serious sticking point is that it is her house, not my step fathers. He has no entitlement to it at all and if sums were done, he would owe my mother money. However, it is generally agreed by all that should my mother die before him, he would remain in the house. This would be a problem if a reverse mortgage was taken out, as once my mother died, the house would have to be sold.
I need to do more research, but any clues or experience?