Checklist
- What problem are we trying to solve: payment pressure, repairs, reserves, or staying in the home?
- How long does the homeowner realistically want to remain in the home?
- Is there an existing mortgage that would need to be paid off at closing?
- Are property taxes, homeowners insurance, maintenance, and occupancy obligations manageable?
- Should heirs, a tax professional, legal counsel, or a benefits advisor be part of the conversation?
- What alternatives should be compared: HELOC, refinance, selling, downsizing, waiting, or family support?
Before requesting numbers
Do not judge the decision only by proceeds. Review obligations, costs, timeline, family goals, and whether the borrower may move soon.