How an elderly homeowner got the money she needed for her operation

Molly, a retired woman in her eighties, had owned her house for time out of mind. She and her husband, Jim, had raised their four children there. Jim had died a few years back, and her kids had homes and kids of their own. Never one to mope, Molly enjoyed her independence and took pride in keeping up the house all by herself.

During a routine check-up, Molly’s physician discovered a strange mole on her back. A biopsy brought sad news: Molly had an obscure and potentially fatal type of skin cancer. She would require an operation and extensive follow-up treatments with an experimental form of radiation.

Molly, like many senior citizens, was misinformed about what her insurance did and did not cover. When she found out that treatment wasn’t covered, she began to despair. She hadn’t had any real income for a long time now. The only thing she owned was her house, and Molly would have died before she gave up her treasured home.

At the request of her children, Molly agreed to consult with the family lawyer. He suggested that Molly consider a reverse mortgage, which she had never heard of. He provided her with contact information for a lender that many of his clients had worked with and recommended.

She was able to get an appointment for the very next afternoon. Molly found out that a reverse mortgage would help her get the money she needed to pay for her skin cancer treatment. Furthermore, there was no risk that she would lose the house. As long as she remained in residence, Molly wouldn’t have to pay back a dime.

A reverse mortgage helped Molly save her life and her residence.