Quote:
Originally Posted by Wormius
That’s what they have, but due to being retired and only having OAS and CPP, the repayment of the HELOC is causing them some stress and they’re only barely covering the interest portion at the current interest rate. I may have to talk to the loan holder when I am back to see if something better that can be arranged, but the interest is ~ 5.5%, so it’s already pretty good.
I don’t think a lien would be received as an insult, I fully don’t expect any kind of repayment until they pass away, and I just don’t want to get screwed.
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Explore the possibility of them selling to downsize before the loan/lien?