[toomuchtodo]

Not advice, educational purposes only. Speak to an estate planning attorney. Depending on resources and objectives, a property can be transferred into a corporate or trust entity. Parent rents from the entity, this covers the mortgage payment. Upon parent's death, property basis is stepped up (no capital gains), beneficiaries retain control of the asset. If children wanted to rent it out to cover the mortgage, they can. Federal statute prohibits a lender from accelerating the note when a property is transferred from parent to child(ren) (Garn-St. Germaine Act). This preserves the equity in the asset while shielding it from creditors (potentially, strongly contingent on state creditor law). Speak to an estate planning attorney.

Primary residence equity is the largest component of wealth in most family estates, ergo maximize efforts and opportunity to protect that wealth. When it’s gone, it’s gone. Good luck.

[brailsafe]

Thanks for the detailed suggestion, I do appreciate it, but it's gone. I just hope he's able to relieve himself of a few burdens and find a way to earn a better income for the rest of his life, although it's a pretty bad time to hope for that.