What kind of housing assistance is available for an 89 year old man?

Question

This old man is 89 years old. No money, no pension. This man can't get a reverse mortgage because he took a home loan to pay medical bills many years ago. He is going to lose his house to foreclosure. He is still healthy, just really old. What kind of assistance can he get? He lives in Montclair, NJ.

Answer 1

Are you certain he cannot get a reverse mortgage? You would only need about 50% equity at 89 yrs old.

Other than that, I would speak to an elder law attorney to qualify him for Medicaid and assisted living.

Answer 2

If your only objective is to keep him from losing the house, one option requires a second party - someone willing to help him who will ultimately also end up likely helping themselves.
I would look to any potential beneficiaries or family members. If none exist, a decent hearted stranger will do, because there would be a potential benefit to the Samaritan and the old man.

If you found someone willing to help, and if the mortgage under foreclosure did not exceed the value of the home then someone could buy the home, pay off the mortgage and grant the man a "Life Estate" allowing him to live there until he dies.

Say for example the house is worth $150,000 and the mortgage is $75,000. Someone buys the house for $100,000, the loan gets paid and the man gets a few extra dollars. Under a life estate, the man lives there forever, with no expenses except his utilities. When he dies, the "owner" gets full control and can rent or sell.

Best case it would be a win-win for both parties, worst case it could be extremely skewed toward the benefactor and fair to the old man, but ultimately, if it is better than the alternative of getting put out on the street, even if the benefactor gets the better of the deal it might seem quite "fair" given the alternative.

A better answer about this as an option requires more specific details.

This is by no means the only solution, but it is a tangible one. There may be some legal alternatives or agencies willing to step in, however those types of solutions generally involve just delaying the process...although at 89 that may be all that is needed.

Good Luck

Answer 3

I would start by calling your local "Senior Center" in your town, and ask them if they know of any "Senior Living, low housing", we have one in our town, and we're not even on the wheather channel, on the Arizona news, our town is so small. So, if our town has a "Senior Center" than your's has got to have one too....They know everything there is to know for Senior's, trust me on this!! Just look on Yahoo's Yellow pages, for a Center near you, or in your town, and if you have too, just pay them a visit, so you can get things in writing , you know.. Poor guy! He can also get food stamps and medical insurance through the state, if you take him down to apply.. You may have to be his legal person to do all of the writing for him, and to handle all of his affair's. You could even talk to the local welfare department and ask them if he qualifies for some sort of assistance, whether it be medical , food stamps , or even a check.. Especially if he's about to lose his home... I would think he would qualify.. There's lots of people out there who are more than willing to help the "Senior's" you just have to get on the phone, and start visiting some of them.. good luck to you hun, and what a kind thing for you to do, by being there for him... God's going to bless you for your act's of kindness, you'll see.. There not just "Old" they've just lived long enough to see alot of years go by, you know.. they still have feelings and need lots of Love, and attention.. I take care of my Mom, and help her as much as possible, and it makes me feel good for doing it, too.. Good for you!! Your a Very Kind Soul.....Smile!!!