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Massive sigh of relief

My Grandmother's nursing home is sucking up about $3000 more a month than she recieves from Social Security and my Grandfather's pensions, and Medicare doesn't pay for long term care. Fortunately, my Grandfather had a significant amount of life insurance, so that is taking up the slack. Once that money is gone, however, she will be forced to sell the house, which I would like to buy. I grew up here, and this place has a lot of memories. It needs a lot of repair work, but the roof is intact, the structure is sound, it's in an excellent neighborhood, on a cul-de-sac, and the view is impressive.

I was under the impression that my Grandmother's finances were in a much worse state than they actually are and that she had nearly used up the life insurance money, so I was estimating that I would have to make a decision about buying the house within the next 3 months or so. I learned last night that she is only now having to dip into the life insurance money, and that, provided she doesn't get any worse, it should last for about 2 more years. That means I've got a LOT more time to go about improving my credit score and obtaining a loan.

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harlequeen
Jun. 3rd, 2005 09:01 am (UTC)
Good to hear. This issue of elderly care is kind of big here too.
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