The mortgage is usually repaid from the sale of your home when you die or move permanently into residential care. The most common reason is that a spouse is older and meets the age requirements.
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Lonely lady looking nsa Show Low Combined locks WI a new type of interest-only mortgage for older people. Image source: Getty Images. However, these are complex products, and there are downsides. The CDC has emphasized that the best way to prevent illness is to avoid exposure. If you care for a loved one living in a care facility, monitor the situation, ask about the health of the other residents frequently, and know the protocol if there is an outbreak.
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