Tuesday, December 2, 2008

Dad

I don't know who has talked with who, but there has been some discussion about Dad sometime in the near future considering moving to an elderly apartment.

I called The Plymouth (which is right across from the Winter Park Village). Mike's mother lived there for 16 years, it's close to the church, and subsized. They are all newly renovated apartments. A one-bedroom is $678 per month which includes all utilities except cable and phone. There is also a studio (which I don't think he would want) for $550 per month. Right now there is no waiting list.

I just want to put the information out there for all of you.

Love to all-
Andi

11 comments:

andrea (Nana) said...

I forgot to tell you that Aunt Sylvia had also suggested it for Dad.

andrea (Nana) said...

How do you all feel about having an intervention with Dad about his gambling problem? I think maybe Paula ought to take control of his finances. What are your thoughts?

Duna Monster said...

Wow. This is the first I'm hearing of this. I think both suggestions are good. Can he afford the move? Was there something that Aunt Sylvia saw that made her think he needs this?

paula said...

I have no problem talking to Dad about his gambling. I have mentioned it to him several times. But, my thought is that he worked hard to be able to enjoy his last few years so this is how he enjoys it. As long as he has enough to bury him and I will talk to him about that.
Is there a website for the place you are talking about, Andy? I will print something off and show it to him. Could you call that guy that worked with you on the revese mortgage and ask what happens if he wants to sell? He has taken 30K of the mortgage out and has about 33K left. If he sells for say 170K, he won't get anything, right? I believe he thinks that if he takes the last 30k out, walks away from the house, the reverse mortgage company can't do anything. I want to be informed when I talk to him. If he has the last of the money that he can take, it might make him think about saving some.

Noelle said...

I think it's ok for Dad to spend the money as he wants as long as his monthly income will comfortably support him. Once he goes through that money though, if he does have a problem, he will be tempted to use his monthly income to support his playing the lotto and I am not ok with that. Not sure what to do there though unless you take away his rights to his own money and he would not go for that.

Noelle said...

Go to this website. It should begin to answer some of our questions:


http://www.financialfreedom.com/reversemortgage/faqs/

andrea (Nana) said...

I just emailed the reverse mort guy with our question. I understood that he can just move, die, etc. and that money is still his. I will let you know what he says.

andrea (Nana) said...

I just talked with Dad and asked him if he wanted me to set up an appointment to see an appartment at the Plymouth and he said yes. He said he would make a move after the first of the year, but yes, he would like to see one. He has been there a few times before when Mrs. Cavalere was there.
I have a feeling that when he sees it, he will either love the idea of moving into an apartment or it will hit him that he wants to stay put. either way, it is a good choice for him to start thinking of the future so we are not hit wil last minute emotional decisions down the line.

paula said...

Thank you, Andy!

Duna Monster said...

Thank you!!!!

Noelle said...

Thank you Andrea