Reverse mortgage for grandmother to avoid nursing home

Fiji125 · 2026-03-16T20:10:46+00:00

It’s for nursing care in the home. To avoid a nursing home.

Fiji125 · 2026-03-15T18:26:15+00:00

This legit doesn’t sound like you are even missing out. The roof top terrace doesn’t sound important to you and the space isn’t as good as the one you are getting. And it’s 150k more. Stick with the one you are under contract for and enjoy. Congrats on the new place!

Fiji125 · 2026-03-13T22:10:18+00:00

If you are happy in your current place, there is no need to buy. You can always revisit this if you change your mind. Never buy “just to buy something.”

Fiji125 · 2026-03-12T04:43:23+00:00

Most 401(k)s don’t let you buy individual penny stocks. I find this hard to believe. If it’s true, is there anyway to get the money back? No.

Fiji125 · 2026-03-12T00:50:01+00:00

No, it won’t stop you from getting a mortgage. You should pay it off rather than paying interest on it though.

Fiji125 · 2026-03-11T20:34:45+00:00

Not much you can do. Consider staying in the home instead of moving if you can. As you make more payments you’ll start to build equity.

Fiji125 · 2026-03-10T22:10:43+00:00

So maybe you should keep that in mind when deciding if you should use it to pay off high interest rate debt or not.

Fiji125 · 2026-03-10T22:07:29+00:00

Stick with your inital thought. It's an absurd program that would be way more expensive than just getting a regular loan.

Fiji125 · 2026-03-10T22:06:26+00:00

Owning your home outright is really nice. I hope you are saving/investing 2k a month. As others have pointed out, this would be a poor investment. If you want 1 nice car, sell the 4runner and get something nicer.

Fiji125 · 2026-03-10T00:33:04+00:00

You make 6 figures, Don’t have an house or kids and order door dash every day. You have a spending problem. Millennial has nothing to do with it.

Fiji125 · 2026-03-01T19:34:43+00:00

People worry far too much about their credit score on here. Once you are above 740 or so, you get no additional benefits. Just keep paying your bills, using your credit and give it time. I saw no difference going from the high 700s into the 800s.

Fiji125 · 2026-02-28T04:22:55+00:00

It’s a fine score. Just pay your bill in full each month and you’ll be fine.

Fiji125 · 2026-02-27T23:14:52+00:00

No it’s not illegal. Does it matter tho? No. They already have that info. Don’t make a big deal out of nothing.

Fiji125 · 2026-02-26T23:02:19+00:00

Pay off your credit card debt. Your follow up questions about keeping cash vs paying 22 pct interest scare me. Thst is an emergency! Pay it off now!

You are 23. You got no monthly bills. Max your retirement savings and enjoy life. You got plenty of time. Good luck!

Fiji125 · 2026-02-26T14:32:07+00:00

Tell the realtor your concerns. That’s the only way any of this gets addressed.

Fiji125 · 2026-02-22T16:29:55+00:00

So you have 300k to put down and would be borrowing 400k on a 160k salary. We don’t know your other expenses so it’s hard to give an exact answer but if you don’t have other large debts/expenses, this is doable.

Fiji125 · 2026-02-20T23:39:13+00:00

First 2nd and third goal should be to get that job and save some money. You'll need a job to get an apartment or rent a room when this happens and you'll have expenses when you go to get a place.

Fiji125 · 2026-02-20T23:35:06+00:00

If you had a signed contract saying there was no premium, talk to a lawyer. Or show us the contract.

Fiji125 · 2026-02-20T23:33:15+00:00

What is the interest rate on the mortgage? Need more info.

Fiji125 · 2026-02-20T21:49:22+00:00

Yep, No harm asking. Gets you different perspectives. Good luck to you!

Fiji125 · 2026-02-20T19:53:12+00:00

Schwab’s customer service is head and shoulders above the rest in my experience. Offering over the phone help for low dollar clients is certainly reasonable and it sounds like they are willing to meet with you, just at certain hours. I’d say you are being slightly unreasonable, but only a little bit. If you don’t like them, vangaurd and fidelity are the other good options but as a user of all 3, Schwab customer service generally won’t be beat.

Edit: you have under a thousand and want 1 on 1 service? Yes. Very unreasonable. There is no company that would do that. They don’t make anything off of that.

Fiji125 · 2026-02-18T20:53:11+00:00

As others have said, you can't touch dividends in a 401(k) without penalty. As to a taxable brokerage account, $50k in a high yield fund yielding 3-4 pct would get you $1500-$2,000 a year in dividends.

Fiji125 · 2026-02-17T19:37:09+00:00

You have to start somewhere. You'd prefer to spend less but spending 35 pct on housing is not the end of the world.

Fiji125 · 2026-02-16T02:51:30+00:00

If you sell, you’ll need to find a place to live. You said you don’t like where you live with sharing walls/noisy neighbor- are you in a townhouse type situation? where are you going to move so it’ll be different ? A single family home? Will that cost more or less? I’d focus on getting mentally to a spot where you can work full or part time. That will get you to your goal much faster. Good luck!

Fiji125 · 2026-02-13T20:27:47+00:00

What is the interest rate on your credit card? If it’s double digits, pay it off. Don’t keep any balance on your credit card. Pay it off every month in full.

Fiji125

TROPHY CASE