My Grandmother has a first and second mortgage. She has become very fragile and unable to do her bills so I have taken that responsibility over for her. However she is more than maxed out. She lives on Social Security and every dime that comes in needs to go to pay bills, this does not include the basic cost of living. She also has a Citibank credit card over $20,000.00 She recently got and overdue notice for her property taxes, which I have no idea how she is going to pay. I thought about combinding her first and second mortgage along with the credit card, so refinancing, but with all of the costs associated with that I do not even know if she would be approved because she only has about $100,000 in equity and her second mortgage is for $60,000. Does someone have any ideas where I can get finanical help for this poor woman! Moving her is not an option.

Not moving may not be an option. It's real scary having large debt looming like a dark cloud. Consolidation may be the only recourse. And soon. If you're not on a power of attorney of any sort, you can only advise her. She needs legal help. You can contact your local Chamber of Commerce. They may have a BAR listing to g et you started. Get references! Good luck and God speed.

Hello a:

Your grandmother is upside down, and getting even more upside down. What I mean by that is that she's in a corner and it gets worse every month. She's at the point where something is about to break. Right now, she can't eat unless she borrows from the credit card. Pretty soon the credit card will be cut off... It's not going to be a pretty sight.

You're right, she'll never get financed because she doesn't have enough income to cover debt service.

I think her only way out is to sell. If you wait, that option will be forced upon her.

excon