| mother needs help
What is the name of your state?Alabama
I have recently learned that my 83 year old mother is in terrible financial trouble. She has a home mortgage of almost 50,000 at 20 percent interest and credit card debt of almost 20,000 with interest between 20-30 percent interest. She has equity in her home of an additional 35,000. My family is not in a position to pay all her debts, but we would like to save her home if possible. We can possibly purchase her house from her at the mortgage price, but we cannot pay her credit card debt. Her income is too low to pay the credit card debt plus normal medical bills and living expenses. Can anyone offer advice on this horror we are living. Do we have any options? Are there any pitfalls we should know about...other than the obvious debt we are accepting.
Last edited by youngestchild; 07-25-2005 at 10:31 PM.
Reason: response needed
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