<prompt> Human: Im just going to copy and paste what she sent me:I am retired and am currently renting. I have an annuity which I am saving towards helping in buying a home. The amount is not enough on its own but would help so that I would not have to borrow as much for a mortgage. My parents are in their 80s and are on social security and own their home. They owe a lot on credit cards with a high rate of interest and they will never get them paid off if they continue as they are now. I have suggested they get a loan from the bank to pay off the credit cards and put the home up for collateral. In this way, the monthly payments would be smaller and would eventually be paid off. My father is worried about losing the home if they do this.I have considered withdrawing my annuity in a lump sum and pay off the credit cards. In exchange, my parents would sign the home over to me. This is something they have considered doing anyway, in case they have to go into a nursing home if the need arises due to medical requirements. This would still leave enough for a small down payment for me to buy a home.Is she on the right track? Could anyone point us in the right direction?  <response>: I dont think your mom should put her financial security on the line for a number of reasons. The main one, however, is that her parents house might not cover their nursing care bills, leaving her with no money AND no inheritance. I think the best bet would be to downsize the parents as much as possible and use the cash from the house sale to pay off the credit cards and set up a small annuity to give the parents some extra money. Im very conservative like that.But the first order of business is CANCELING the line of credit so they cant add to their burdens. The next order of business is finding out where the cash is going so that you all can work out a budget. its possible that the grandparents are on out-dated and expensive bill plans for cable, internet, cell phones, etc. They may have insurance they dont need on the cars, that sort of thing. Im sure there is wiggle room, there almost always is.Honestly, I think this is also a time to consider liquidating collectibles or jewelry. Its an investment, yes, but this is the time to reap the reward of having done the investment so long ago. They may be holding onto stocks, bonds, coins, stamps, etc, for a rainy day. This is the rainy day. 