Q. An aging couple that is undergoing a severe monetary crisis due to uncovered medical expenses that have caused them to have to borrow a large amount of money. The have considered asking the established Chesed institutions in town to help them, but they have declined since they own a valuable house.
Can they themselves or a group of friends help them raise the Tzedaka funds? The do not have any children.
A. The Tzedaka institutions have a valid point since they can raise the money needed in something similar to a reverse mortgage, that could be given by a friendly and helping real estate and properties owner, that may give them a significant sum yearly sum in an arrangement that lets them keep until the end of their lives the house, that would then be transferred to the investor.
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