Hello, I have made a throw away so I can give as accurate information as possible.
My mom is 61 and has been retired for about 2 years. I don't know how much she had in 401K when she left the work force(I'm assuming $20-30K) but she informed me that she only has about $10K left. Here is her monthly breakdown:
State: Ohio
Liabilities:
Mortgage(w/ escrow): $706.00 || She refinanced her house at some point and owes $43K
Medical Insurance: $500.00
Prescriptions: $384.00 || due to heart attack and lung issues
Groceries: $250.00
Gas: $50.00 (assumption)
Utilities: $150.00 (assumption)
No Credit cards or auto payments
Rough Total Monthly Liability: $2,040.00
Assets-
Car: $3-6K kbb private party value for "good Condition"
House: ~$64k purchased in 2006, she owes $43K
Backstory:
She retired early to take care of my Grandmother. Grandma passed away in October of 2017. My mother had a medical situation in December which now requires her to be on oxygen and a slew of medications which seems to severely restrict her from working. She cannot work and the state will not classify her for SSI benefits. I am not sure how much she owes on her house but zillow.com is roughly estimating the value at $99k which seems high for her neighborhood.
She can't live with me because I live several states away and she doesn't want to leave her doctors and my grandmother's grave site.
The car has to go through probate court before she can sell it because it belongs/belonged to my grandmother. According to her probate costs about $500.00. The car very well might be worth less because my grandmother was a chain smoker and I'm pretty sure she smoked a ridiculous amount in that vehicle.
By my estimates, she will be flat broke before August. I would like to get her to sell the car which would hopefully buy her an extra month of living expenses. I would like to keep her in her house but I think that ship sank a long time ago. Are there any state (Ohio) programs that she could use to get help or at least carry her until she can dip into her social security benefits? Does Ohio have health insurance assistance programs for people like my mother?
I would be very grateful for any ideas anyone has to offer.
Submitted March 25, 2018 at 09:58PM by Cure_boneitis_now https://ift.tt/2Gaqp8i
