Looking To Relieve Caregiver Stress? A Reverse Mortgage May Be The Answer!

Are you a caregiver, one who is taking care of a loved one?  And as a caregiver are you also balancing your career, family, home and life activities?  Are you stressed from all of this?  Are you overwhelmed at trying to handle everything and find options to help your loved one?

When taking care of your loved one are you wishing you could focus on being the child or spouse instead of paying the bills, managing the budget, preparing the meals, ensuring their needs are met, medicines are taken, managing the household or being the nurse?  Are you trying to finance their needs along with your own?  Are you wishing you could just sit and visit, read to them, go for a walk, go out for a relaxing lunch, or go shopping instead of dealing with everything else?

A reverse mortgage may be the answer to help you.  With a reverse mortgage you can reduce your stress and hire the assistance from a care manager, companion service, home care agency, daily money manager and/or find services to help with the yard and household chores.  With the services you can return to your role of child or spouse and do the things you enjoy doing with your loved one.

A reverse mortgage is a mortgage with special terms for senior homeowners 62 and older that allows seniors to remain in their home with security, independence, dignity and control.  The advantage for seniors is that there are no income or credit score qualifications and there are no monthly payment requirements.  The borrowers keep the title to the home and are responsible for taxes, insurance, and maintaining the home.  Unlike a conventional loan the low-interest accrues, increasing the balance with no payments due until the home is no longer the primary residence of the borrowers.  In addition, the reverse mortgage is a non-recourse loan which means there is no personal liability to the borrowers or their heirs for repayment if they our their heirs are not retaining ownership.  When there is remaining equity at the time of sale the funds go  to the borrowers or their heirs.

The funds can be used for any purpose, whatever the needs or wants of the seniors.  The advantage to you, the caregiver, is that funds would be available to get the services to help your loved one so they can remain in their home and not depend on you and you can enjoy your time with them rather than being the nurse, the money manger, the cook, the yard worker, etc..

Some of the resources available to assist you include:

  • A care manager who is a professional such as a social worker or health care professional who can assist you or your family to manage the medical, psychological, and social affairs, through assessments, identifying needs, and then planning, coordinating, and monitoring services and resources to assist you in financial, legal, and housing needs.
  • Daily Money Managers can assist with day-to-day finances such as paying bills, balancing they checkbook, sorting the mail.
  • Companion and home care services are services provided in one’s home ranging form companion and basic home chores to medical care such as nursing, occupational, speech, or physical therapy and other medical therapies.  Home Health Care providers may hold licences and provide skilled cares which are done by licensed professionals such as a social worker, nurse, or home care aide and can provide personal care and assistance such as activities of daily living like bathing, dressing, grooming, transferring, toileting.  Companion oar personal care assistants provide companionship and supervision but cannot provide personal or nursing care.  Their services are available from minimal hours to 24 hours and live ins.

So stop being so stressed, look into a reveres mortgage to see if it is right for your loved ones to have the funds for their security, independence, dignity and control.  It could be a wonderful present to yourself.

Other Blog articles you may find helpful:

© 2009 Beth Paterson, Beth’s Reverse Mortgage Blog, 651-762-9648

This material may be re-posted provided it is re-posted in its entirety without modifications and includes the contact information, copyright information and the following link:  http://wp.me/p4EUZQ-bL

Blog posts’ information is current as of date post published, program is subject to change in in the future. Contact us for current information, 651-762-9648.

This site or the information provided is not from, or approved by, HUD, FHA, or any US Government or Agency.

Having Our Seniors Share Their Memories, Dreams and Desires To Receive Security, Independence, Dignity And Control

Home for The HolidaysWith the families gathering for the holidays now is a good time to discuss memories, dreams and desires with our senior loved ones.  One of the most important things to keep in mind is having an understanding of the senior and considering what they want.  As George Santavana stated, “Before you contradict an old man, my fair friend, you should endeavor to understand him.”

Our seniors are valuable to our families and to our society.  They are not just a potted plant in the corner that looks beautiful.  They bring experience, knowledge, history and a sense of who we are.  They have and continue to contribute to our world.  While we treasure other things that are old, we often discount our senior’s opinions, needs and desires.

Sister Mary Germma Brunke wrote, “It is the old apple trees that are decked with the loveliest blossoms. It is the ancient redwoods that rise to majestic heights.  It is the aged wine that tastes the sweetest.  It is ancient coins, stamps and furniture that people seek. It is the old friends that are loved the best.  Thank God for the blessings of age and the wisdom, patience and maturity that go with it.  Old is wonderful!”

How can we help make “old” wonderful?  As you are visiting with your loved ones ask them what they remember about moving into the house they first purchased, what they like about the neighborhood.  How do they feel about where they are living now.  Have them share memories of their friends from their youth and what they treasure about the friends in their life now.  What do they cherish?  What has value to them?  What’s important to them?

Sharing MemoriesHave your loved ones define security and find out what gives this security to them.  From their viewpoint what does it mean to be independent?  How do they define dignity in their life?  What do they need to feel they still have control and choices in their life?

Listen to them without making judgments.  If they repeat the same story several times, look at it as a process or stage they are going through.  It doesn’t mean they have dementia, it may just mean that something about that time in their life has a significant impact on their life.  Find out the details of that time of their life and what it means to them now.

There’s a wonderful book by David Solie, M.S., P.A., “How to Say It To Seniors: Closing the Communication Gap with Our Elders” that provides insight into understanding and gives great suggestions on how to have the discussions with your loved ones.

As you listen to the answers of your loved ones are you discovering that they want to stay in their home?  Are they struggling financially?  Do you need a little extra help with chores or getting out to church or visiting with friends or going to a movie?  Do they need some physical therapy to help be able to do what they desire?  Is nutrition and meals a concern?  Would assistance in bathing be helpful?

There are many options available to help seniors meet their needs and desires.  If they want to stay in their home and need some extra cash, consider a reverse mortgage.  If they need some extra help, a home care agency can help them.  Home care agencies provide companion services, meal preparation, medication reminders, bathing and skilled care.  Physical therapy can be brought into the home.  Adult Day Services are an often overlooked option.  And if the family dynamics come into play, a Geriatric Care Manager can help facilitate as well as assist in determining needs and resources.

Reading some of my other blog articles will help provide you and your loved ones with information to help their life to be wonderful:

Reverse Mortgages Help Celebrate Independence;”

Know a Senior Who Wants Security, Independence, Dignity, And Control?;”

Reverse Mortgages Finance Home Care;”

Finance Retirement With Reverse Mortgages;”

Be Educated About Your Options of Care and Financing The Care.”

Senior Companionship“Aging is not ‘lost youth’ but a new stage of opportunity and strength.” (Betty Friedan)  Let’s honor our seniors at this stage of their life with the value they provide to us and with the opportunities available to meet their needs and achieve their desires.

© 2009 Beth Paterson, Beth’s Reverse Mortgage Blog, 651-762-9648

This material may be re-posted provided it is re-posted in its entirety without modifications and includes the contact information, copyright information and the following link:  http://wp.me/p4EUZQ-bt

Blog posts’ information is current as of date post published, program is subject to change in in the future. Contact us for current information, 651-762-9648.

This site or the information provided is not from, or approved by, HUD, FHA, or any US Government or Agency.