So here's the case that I'm trying to decide what the best path forward is:
Background: Grandmother is getting older, showing some early signs of dementia and degrading health. She has two major assets: two houses both located in ga u.s. One is north ga in the boonies that her son, my father, lives in. The other in Atlanta in a fairly hot market area. She also has a retirement but I estimate that will run out inside 5 years because she has about $100k in credit and small loan debts. She's owes nothing on the north ga property but there's a reverse mortgage on these ATL property of about $250k. Between retirement and ssi she gets in about $5k a month.
Neither house is in good shape, both would be teardowns so I estimate the north ga one would sell for about $100k-$130k, and the Atlanta house actually had an exact example sell next to it for $370k so I figure best case $350k for that one.
Question: what's the smartest path forward?
It sounds like she wants the north ga property to go to her son and the ATL property to me, but it's sounding like I get the raw end of the deal.
Submitted April 07, 2020 at 10:12PM by jakahn https://ift.tt/3e5RpqU
