re: Parents considering Reverse Mortgage

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There's nothing to give them. Struggling to keep the doors open as it is.

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Would a family member be willing to buy their house from them at a discounted rate and then rent it to them?

I feel like that would be a better deal for everyone. Maybe the entire family could form an entity to do this.

Instead of them paying a monthly rent, discount the purchase price by monthly rents not paid based on their average life expectancy.

Simple example:

$300,000 Value Home
10 years of life left

Average rental rate of $1,000 per month for 10 years = $120,000

Purchase Price $300,000 less $120,000 = $180,000

Family purchases it for $180,000 and they get to live their till they die then family can sell the house.