A Senior Living Line of Credit is an affordable line of credit to help you or your loved one to access the senior living community of choice and it allows you to borrow only what you need as you need it, in a line-of-credit format.  If you loved one owns a home that has not sold, in this market you can wait to sell it at a better price and still have the money to move your loved one into the community of his/her choice.  Features of the line-of-credit include:

• Allows you to pay much smaller payments on funds used
• In many cases offers a same day decision and much faster funding (24-48 hrs)
• Is typically unsecured up to $50,000
• Enables up to six people to apply together so that relatives and siblings can share the responsibility
• Funds are sent directly to the senior living community
• Has repayment terms of 3-5 years so that if a house needs to be sold there is plenty of time
• All documents clearly state that this is for mom or dad’s housing care