Financing for my moms home? Reverse Mortgage?

[Chris Roche]

I am not too sure where to post this but here it goes.

My mother was recently laid off from her job of 37 years.  She has severance pay for about 10 more months.  After that, she won't be able to afford her house unless she gets another job.  I met with a mortgage broker today and he suggested two options:

1. Reverse Mortgage

2. My siblings and I purchase the house with an LLC and just the equity to pay for the home and expenses.

Does anyone have any input or advice?  My goal is to keep my mom in her home and to minimize her monthly payments.  It is a very modest home that she has been in for over 30 years.  She loves the house, its all she knows and she won't want to move.  If it helps she owes about $100,000 and the house is worth somewhere between 200-225k.