DEAR BOB: My father, age 78, lives in his home alone. He has become a bit senile, but he can still be very feisty. His house badly needs a new roof. But he stubbornly refuses to have one installed because he says he can't afford it. Every time there is a heavy rain, he complains about the leaks and why he can't find a roofer to patch the leaks. He is in excellent health for his age. I obtained information on reverse mortgages as well as home equity loans for him. Do you think a home equity loan would be better for his situation to pay for a new roof that will cost about $15,000? – Ron R. DEAR RON: If your father obtains a home equity loan to pay for a new roof, how will he pay the monthly payments? Does he have sufficient retirement income? Purchase Bob Bruss reports online. You say ...
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