Short Term Loan Secured By the Equity in Your Home

Short Term Loans Secured by Equity of Home

I was at a meeting this week at Sakonnet Bay Manor, which is an assisted living facility in Tiverton, Rhode Island.

One thing we talked about that I was not familiar with, was a new short term equity line of credit that could be available to home owners, in a couple of days.

Such a loan could be utilized in the following example:

Mom lives alone and she owns a home with no mortgage. She suffers a fall and is likely not to return to the home because she should no longer live on her own. She and the family decide she would be more comfortable in an assisted living facility. She does not have the liquid assets to pay for the facility, but she does have all the equity available in her home. Since the market is not prime for a sale, or repairs need to be made to the house before it could be sold and mom does not have the funds, this type of loan could be helpful. With the funds, mom could get into the facility quickly, and the loan is paid from the equity from the house.

If this sounds tempting, please contact our office 401-841-5700 for more information, and we can put you in touch with a broker. This type of loan may not be for everyone, but it could be an option for you or a family member that should at least be considered.


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The Law Offices of Jeremy W. Howe, LTD. are Elder Law Attorneys in Newport, Rhode Island who specialize in Wills and Trusts, Estate Planning, Guardianship, Probate, and Veterans Aid and Attendance Benefits.

They also are Newport Rhode Island Divorce Lawyers, Attorneys, Mediators, and Arbitrators providing services for Family Law issues such as divorce, child custody and visitation, support, and Military Family Law.

Call them today at 401-841-5700 or visit them on the web at http://www.counselfirst.com

"Homecare" doesn't have to mean nurses.

I recently met with my women's networking group called SeniorRULE. We are Resources Unlimited and Liaisons for Elders. One of the members owns a homecare agency, and she has been in business for about 6.5 years now. Kathy Devlin, founder of "All About Home Care" originally started by providing companion care, which did not include CNA or skilled nursing. She could provide companions to do the cooking and cleaning, grocery shopping, driving, and to simply be there for someone who did not have anyone else. She recently went through the administrative requirements so she could also provide CNAs (Certified Nursing Assistant) in the home, but she continues to staff companions.

Kathy felt it was important to remind us that various services can be provided by a companion, and other services are required to be performed by a CNA. Companions can be much less expensive for the patient, and perhaps one should be considered if you or your loved one needs more attention than you are able to provide. It is typical when people begin using a homecare agency to hear, "I should have done this ages ago!"

If you or your loved one is in need of extra help, and you are not sure where to turn, call us at the Law Offices of Jeremy Howe and we can discuss what services may be available in our area and try to make sure your affairs are in order to make your life and those of your loved ones easier.


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The Law Offices of Jeremy W. Howe, LTD. are ElderLaw attorneys in Rhode Island who specialize in Wills and Trusts, Estate Planning, Guardianship, Probate, and Veterans Aid and Attendance Benefits.

They also are Newport Rhode Island Divorce Lawyers, Attorneys, Mediators, and Arbitrators providing services for Family Law issues such as Divorce, Child Custody and Visitation, Support, and Military Family Law. 

Call them today at 401-841-5700 or visit them on the web at http://www.CounselFirst.com.