‘I’m completely gobsmacked’: My elderly brother has a reverse mortgage, but has run out of money. Do I help?

Site SearchClearSEARCHAdvanced Search ➔Search ResultsSymbolsNo results foundAll NewsArticlesVideoPodcasts0 ResultsNo Results FoundAuthorsNo results foundSectionsNo results foundColumnsNo results found The Moneyist‘I’m completely gobsmacked’: My elderly brother has a reverse mortgage — yet he still ran out of money. Do I help?‘My husband and I are both retired and have saved for years — we simply can’t afford to take on his financial situation’Last Updated: March 28, 2026 at 1:37 p.m. ETFirst Published: March 21, 2026 at 7:00 a.m. ETShareResizeListen(7 min)“It may sound harsh, but we’re old as well.” (Photo subject is a model.) Photo: Getty Images/iStockphotoDear Quentin,First of all, I never imagined I’d be in this position. My brother, who is the eldest sibling, and I are the only surviving members of our family since our parents passed away. Now he is suddenly cash-strapped and coming to me for financial help. He has a reverse mortgage on his home, and my husband and I have a meeting scheduled with him to go over everything. He lives in a somewhat affluent neighborhood.How does one go about helping a very elderly man who has only me as his next of kin? My husband and I are both retired and have saved for years. We simply can’t afford to take on his financial situation. It may sound harsh, but we’re old as well. I’m completely gobsmacked by this situation, as I truly believed he was doing fine. Thank you for your time — any suggestions would be greatly appreciated. About the Author Quentin FottrellQuentin Fottrell is MarketWatch's Managing Editor-Advice Columns and The Moneyist columnist. You can follow him on Twitter @quantanamo.Show Conversation (0)Back To TopA Dow Jones CompanyCopyright © 2026 MarketWatch, Inc. All rights reserved.Terms of UsePrivacy NoticeCookie NoticeArchive MarketwatchCustomer CenterContact UsNewslettersNewsroom RosterVirtual Stock ExchangeMarketWatch GuidesCopyright PolicyManage NotificationsCancel My SubscriptionCompanyDow JonesCode of ConductCorrectionsReprints & LicensingDigital Self ServiceYour Ad ChoicesCorporate SubscriptionsAccessibilityDow Jones NetworkThe Wall Street JournalBarron'sInvestor's Business DailyFinancial News Londonrealtor.comMansion GlobalDow Jones Smart MoneyIntraday Data provided by FACTSET and subject to terms of use. Historical and current end-of-day data provided by FACTSET. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.