My adult daughters, both of whom are financially healthy, sat me down this weekend and strongly suggested I allow my home to be foreclosed since we don't see it selling in the foreseeable future. I have enough money in retirement to pay off all my credit cards and catch up with my mortgage, but don't have enough income any more (unplanned cardiac surgery, etc.) to keep up with my bills even with NO credit card payments. Their suggestion is getting an apartment for less than my mortgage payment, which is not unrealistic, and I don't have a problem with the apartment idea.
What are the pros and cons of this?
Thanks for your input!
Sandi
