[plinyelder]

Based on these numbers you wouldn’t have enough equity to qualify for anything. Use the AARP calculator to see but I don’t see anything you can do with this.

We were offered $134,000 with no up front costs.
This would allow us to pay off the home and second mortgage, along with some on the credit cards.
Jane will still have the $1,400 a month SS and that would allow us .. 'at least' $900.00 a month free to purchase food and other necessities.
The claim is that whatever equity is added to the home over the years would be ours. (True?)

[dblup]

$134G over how long?

What are they paying you monthly?

They can’t be paying you in a lump sum or they would own & take the house.

But once they do reach the $134 (plus some interest I would assume), my understanding is that the payments cease, you move out and they are the new owners.

You are a young man-—you could live in reasonably good health for years! Where do you plan to live after they take possession of the house?

[reformedliberal]

From reading some fine print on a mailer, IIRC, they get 50% of any appreciation when the house is sold.