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Who are you caring for?
Which best describes their mobility?
How well are they maintaining their hygiene?
How are they managing their medications?
Does their living environment pose any safety concerns?
Fall risks, spoiled food, or other threats to wellbeing
Are they experiencing any memory loss?
Which best describes your loved one's social life?
Acknowledgment of Disclosures and Authorization
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid. We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour. APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment. You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints. Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights. APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.I agree that: A.I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information"). B.APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink. C.APFM may send all communications to me electronically via e-mail or by access to an APFM web site. D.If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records. E.This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year. F.You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
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Mostly Independent
Your loved one may not require home care or assisted living services at this time. However, continue to monitor their condition for changes and consider occasional in-home care services for help as needed.
Remember, this assessment is not a substitute for professional advice.
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We are starting to look into a "family opportunity mortgage" to purchase a home near us for my parents. I'm wondering if anyone has gone through the application process.
I don't think it is state specific since it is a Fannie Mae product. My realtor just let me know about this as a way to purchase the home without having to set up an S-corp or LLC and purchase it as in income property. Here is one link I found. http://www.blownmortgage.com/how-to-make-purchasing-a-home-for-your-parents-cheaper/'
I hadn't heard of this mortgage product either, so I did some quick checking. Apparently it's a method for adult children to purchase a home for their parents, who are subject to certain restrictions (can't afford a mortgage themselves and aren't working), but as a residential as opposed to a second home or an investment property.
Terms are more akin to those for residential properties. The home isn't subject to distance restrictions or a higher down payment, higher interest rates or more strict qualification criteria (as they would be for investment properties).
I found articles at the BankRate website and one which provides a good basic description at the "My Mortgage Insider" website. I can't post a link b/c the filters delete portions of the URL, but if you do a google search, you'll get hits on these websites.
What I found interesting was the my search brought up names of lendes, none of which I would ever consider for loans. One has a less than stellar reputation, and the others I haven't even heard of. It's not entirely clear if Fannie Mae grants the loans or other lenders grant it on Fannie Mae's terms.
My concern would be the caliber of these lenders, as well as the long term obligations, i.e., if the house has to be sold when one or both parents have died, or if they move to living facilities out of the house (such as IL, AL, or other commercial care facility).
I also had to dig for some information. This would work if the adult children are able to afford to pay a mortgage on two houses.... their own house [unless paid off] and on the property for their parent. It can be structured as a "second home".
It might be better to structure the parent's new house as a rental, then that way if the parents are paying the going rate for rent, then the adult child can take advantage of the IRS deductions for owning a rental property. The only draw back would be the down payment would be higher and so would the interest rate, but with the deductions one might break even.
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
I wonder if this is only available in certain States?
http://www.blownmortgage.com/how-to-make-purchasing-a-home-for-your-parents-cheaper/'
Terms are more akin to those for residential properties. The home isn't subject to distance restrictions or a higher down payment, higher interest rates or more strict qualification criteria (as they would be for investment properties).
I found articles at the BankRate website and one which provides a good basic description at the "My Mortgage Insider" website. I can't post a link b/c the filters delete portions of the URL, but if you do a google search, you'll get hits on these websites.
What I found interesting was the my search brought up names of lendes, none of which I would ever consider for loans. One has a less than stellar reputation, and the others I haven't even heard of. It's not entirely clear if Fannie Mae grants the loans or other lenders grant it on Fannie Mae's terms.
My concern would be the caliber of these lenders, as well as the long term obligations, i.e., if the house has to be sold when one or both parents have died, or if they move to living facilities out of the house (such as IL, AL, or other commercial care facility).
It might be better to structure the parent's new house as a rental, then that way if the parents are paying the going rate for rent, then the adult child can take advantage of the IRS deductions for owning a rental property. The only draw back would be the down payment would be higher and so would the interest rate, but with the deductions one might break even.