Suze Orman

They can't get any more credit.

And now we have problems.

So you better

Start to find out right now what's really going on with them because it's not just what happens when they are dead.

It's what happens when one of them dies.

And you might want them to listen to this if you don't have the nerve to ask them for this on your own.

That's number one.

Number two, they have a reverse mortgage on their home.

What that means is that the bank owns the house and the bank is paying them monthly every month to live in that house.

Now, I don't know how long that's been going on.

It is possible that the bank has already paid out more than the house is worth.

or maybe they haven't.

But on your parent's death, what will happen is depending on how much has been taken out, if they've taken out already more than the house is currently worth, the bank is just going to take the house and you don't have to worry about it.

If they haven't taken out as much as the house is worth, then you will sell the house to

pay the bank back and you get to keep the rest.

I have a feeling the bank is going to get the house.

As far as their car goes, the car, just call the car company up and say, hey, repossess it.

It's theirs, whatever.

Any car company that is stupid enough to really lend people money, who have claimed bankruptcy, who have probably horrible FICO scores, all the stuff going on with your parents, fine, let them repossess the car.

No big deal.