So my Father is in sort of a tough spot. Trying to see if I can get some advice to help him out, because frankly he's not taking the steps needed to help himself, but thats a whole different story.
At any rate he's 65, fully disabled, stage 3 Cancer survivor that is now battling fully-debilitating peripheral nueropathy (loss of feeling/control in his lower legs). Unfortunately his credit took a hit with the Medical bills/Cancer expenses and is currently in the “poor” category. That said he currently owns a Condo and has approximately $55,000 in equity built up.
So my question: is there any way to touch the equity with his credit rating? At this point we're not sure if he's going to need to sell the Condo and move into an assisted living residence, or whether he will be able to live on his own. No matter what the outcome it's absolutely critical that he somehow get access to a small portion of his equity. We're not talking much, maybe $8000 or so. He's already tried to get a second mortgage and was declined. Are there any other options?