which has about $250k in equity in it based on a quick Zillow-ing (low end of the Zillow value) but it also has about 23 years left on the principal.
~$28k is "personal" debt because about $18k of that appears to be related to the business (LLC) they ran. Not sure if that matters.
Other spouse had no idea about any of this debt except the medical debt as the finances were taken care of/hidden by the now deceased spouse. I've yet to inform the surviving spouse and am not sure that I actually will, but I am trying to do what's best for them.
What is the right move since the surviving spouse is going to inherit that debt? They're in their 70s and will be on a fixed (their Social Security + Survivor's Benefits) income. Home equity loan to pay it off? Bankruptcy? Something else I am not thinking of?
Submitted May 23, 2023 at 12:29AM by Meat-Virginia https://ift.tt/mGInd9J
