They live off of Social Security and VA. Both of my parents are in their late eighties with health issues of Alzheimers, Parkinsons, Diabetes and heart problems. I've been caring for them at home with the help of health workers and hospice while I work my full time job. It's becoming clear that they may soon need to move to a nursing facility. Their budget is very small, about $3000 a month and I struggle to pay for their care. They live off of Social Security and a small VA benefit. What does one do about the bills that are left behind at home if I do manage to find a facility that will take them? I know I can sell their home but that takes time and there is no equity left there. They have a lot of medical bills plus a personal loan we had to take out to provide some income. Any advice?
Like was their home placed as collateral for it. Standard home Mortgages (like FHA & VA) are always secured lending, but also HELOCs & personal loans will do this as well. Imho you need to know cause it will have a huge effect as to what happens should they sell their home.
Diva, you mention “there’s no equity there”, does this mean the lending on property exceeds what it could possibly sell for?
Not to say someone cannot take them to court and win a case when they don't show up for the court date, and they can then put a lein on their home, so that any sale of it will pay whatever judgements are rendered, but comes a point when it just is impossible to deal with the bills of another, that you do not owe. WHATEVER YOU DO, do not pay them YOURSELF out of your funds. Do what you can as POA for your parents, but their immediate needs and care first. Once in care anyone who placed a lein on the home will be in line with medicaid recovery, so assets of the home will be gone.
You cannot get blood out of a turnip as they used to say. Do not make any payments yourself; this kicks the four year point for most states back to day one. Do not speak to people. Tell them your parents are "in care" when they are, and unable to speak. As to now, tell them your parents are very elderly and unable to speak with them on the phone, and bills will be paid in order sent as they are able to afford them, which is finally not much. At some point, hang up.
If you have POA to pay there bills this is all more complicated. You may at some point need the advice of a lawyer. Spend their money for THAT, not for the medical bills.
We liquidated everything in their home, cancelled every service and paid minimums on their medical bills from their own funds until we could get permanent placement for them. We didn't "stiff" anyone except the cc companies which was an overwhelming amount and the debt now owned by collection companies.
Your LOs will need to apply for Medicaid. They seem to have nothing (not even owning their home apparently) so they've got nothing to lose and their care will be the same as those who pay out of pocket.