Legal Question in Wills and Trusts in Massachusetts

Re: Mortgage/SSD

If your goal is to stay in the house and you are age 62 or older, you can use a reverse mortgage. This will pay off the old mortgage and allow you to stay in the home. You will not have to repay the loan unless you sell the home, move out of it for longer than one year, or pass away. Even if you are younger than 62, you may be eligible for certain state programs.

Please contact me -- I may be able to point you in the right direction.

Re: Mortgage/SSD

There is a lot of information an attorney would need to learn from you in order to help you answer that question.

It sounds like you are financially strapped on the existing mortgage rate, and assuming that the mortgage is valid, there will be some tough questions to ask. Particularly if you may need additional physical or nursing assistance in the future, the financial impact of trying to keep the house may not be in your long term best interest.

While things such as "reverse mortgages" exist, they are expensive, and may not quite fit your situation. There are local banks who might be in a position to provide you with appropriate financing, but on the limited information which you provided, if you are of retirement age, you may wish to speak with an elder law attorney, because there are other issues you will need to consider which are in their field. (Without making a specific recommendation, I believe that Atty. Golden is an "elder law" attorney.)