Privately funded Reverse mortgage?

[Jennifer Anderson]

Hello All,

I have a situation. Not sure how to approach this and any advice/suggestions would be appreciated.

I have a friend who asked me about a reverse mortgage. He is 55, his wife is 67 and disabled. She owns their home free and clear. They are both in poor/bad health and need a lump sum to pursue some experimental treatments.

He is anxious to get this money. Too anxious to wait for a traditional reverse mortgage, HELOC, etc. I don't think their income can afford much more than the monthly bills, definitely not a large loan payment.

They are looking to get $70-100,000. The house is in good repair but a basic small 2br in a desirable neighborhood, valued at $420,000

I'll just get to the point-is there any way can I make money on this and help them out at the same time? I do have an LLC and a contact for hard money. I'd be open to any and all traditional or creative ideas.

Thank you in advance for your feedback!