Hello
I need some advice on the legal and financial impact for a friend who is an aged pensioner. They have just moved out of their ppor into a nursing home and now need $300,000 for the deposit bond. Until the bond is paid in full they pay 6.8% interest on the outstanding balance: currently they are paying $2,000 a month interest on top of the accommodation fees.
It might be cheaper to put them in the Hilton, but that's another issue.
I need advice on whether to sell the house (estimated at $400,000 by a certified valuer, have already had an offer of close to $500,000) or to rent it out, get a loan for the nursing home bond. The impact on aged care pension and other issues needs to be considered. The property needs close to $20,000 spent on it to get ready for sale or rent.
I'm not expecting an answer posted to the forums, can people suitably qualified get in touch with me and we'll do it professionally.
Many thanks.
I need some advice on the legal and financial impact for a friend who is an aged pensioner. They have just moved out of their ppor into a nursing home and now need $300,000 for the deposit bond. Until the bond is paid in full they pay 6.8% interest on the outstanding balance: currently they are paying $2,000 a month interest on top of the accommodation fees.
It might be cheaper to put them in the Hilton, but that's another issue.
I need advice on whether to sell the house (estimated at $400,000 by a certified valuer, have already had an offer of close to $500,000) or to rent it out, get a loan for the nursing home bond. The impact on aged care pension and other issues needs to be considered. The property needs close to $20,000 spent on it to get ready for sale or rent.
I'm not expecting an answer posted to the forums, can people suitably qualified get in touch with me and we'll do it professionally.
Many thanks.
