Remember the movie The Wizard of Oz? At the end Dorothy clicks her heals and repeats, “There’s no place like home. There’s no place like home”. Well there is really no place like home. The home is the place that is familiar. That is why seniors suffering from macular degeneration, the leading cause of blindness in the elderly want to stay in the home. Seniors want to stay in the home because their doctors are usually close by. Seniors want to stay in the home because they want to be close to family. There are a plethora of reasons staying in the home makes sense. Yearly surveys do illustrate the point that an overwhelming majority of seniors wish to remain in the home.
FHA Mod will allow more seniors to remain home because the law allows seniors living in co-op apartments to utilize the reverse mortgage. By increasing the lending limit, it will allow more money to flow into their pockets. By allowing seniors to use the reverse mortgage when purchasing a 1-4 family home, it will permit more seniors to access the reverse mortgage.
My friend and colleague Jack Halpern is one of the finest advocates for seniors in this country. He is an expert in the field of nursing home care.His site, My Elder Advocate is a must view. In a recent blog, Our Elders are in Danger , Jack raises some disquieting questions about care in nursing homes. Did you know that almost as soon as a senior enters the hospital the discharge process begins? Did you know that 75% of the nursing homes in this country are sub- standard? Did you know that the word “rehab” is code for nursing home? Did you know that hospitals look at seniors as mere transients? If mom and or dad can’t feed themselves and you are not there to help, they could miss their meals? Did you know If they can’t go to the bathroom or use the bedpan they will be fitted with diapers that will be changed infrequently?
Having access to reverse mortgage proceeds is really critical. These proceeds often allow our elders to receive the care that they will need at home. Whenever appropriate and possible, keeping seniors in their home; in a loving and caring environment is priority number one. Now close your eyes and click your heels and say, “There’s no place like home, There’s no place like home”.
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