What does a family do when faced with having to pay for a senior loved one to move into a senior care community? In this segment, Emily Schwarz with ElderLife Financial joins Suzanne to share some success stories and various examples of ways that ElderLife has helped families, courtesy of MorningStar Senior Living.

Emily says, "we recently had a family down in Florida that was looking for a bridge loan while their home was selling. So Mary had a $131,000 home to list and they needed to move into the community immediately. They reached out to the ElderLife Financial concierge, and within three days we were able to fund a bridge loan. They needed $5,000 a month for rent and care, and so we estimated that it would probably take about six months for that home to sell. Now, the great part about this is they listed their home for $131,000 and they actually received $146,000 for that home when it sold. How did that happen? Because they were able to fix up that home. I know we talked a lot about home repairs, and staging them, and having mom and dad out of the home. They ultimately got $15,000 more by utilizing our bridge loan. They were able to get top dollar, even in this tough real estate market, because the house was staged and in its tip-top shape, all repairs done. So I would think that's the one of the best case scenarios. That's what we see a lot, where families actually earn more for their home than they thought they would.

"One thing people don't realize that we help with is existing residents. So if you are already living in senior living, or your mom's already living in senior living, and you never knew that ElderLife Financial existed, and you're struggling to pay that rent bill every month, because your home hasn't sold as fast as you thought, or your VA benefit is dragging along, you can contact ElderLife and we even provide bridge loans for existing residents. So before you start thinking about moving mom and dad out of the community, have a conversation with us. We also clear up arrearages. I just had a family in that situation. We've provided $25,000 to their community because they were in arrears. The next month, their house sold. They were able to pay it off, but they didn't have to be evicted. They were able to stay while they waited for that home to close."

Listen to hear more examples of ways ElderLife Financial can help. Call their financial concierge family line at 888-228-4500 or visit ElderLife Financial's website. Courtesy of MorningStar Senior Living.

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