Inheriting a house -- and the mortgage

Dear Realty,
It's a terrible idea to borrow against your credit line with the hopes of earning more on your investments than you pay in interest.

There's just too much risk in the stock and bond markets, and there's not enough of a spread in the CD market over your interest expense to make it worth pursuing.

I'd suggest spending some money to consult with a financial planner. The planner can get the big picture and may suggest some alternatives to help you hold on to the house if your mother dies before you. A reverse equity mortgage, for example, is a possible solution, depending on the value of the home.

The Bankrate feature, "Financial planners: not just for millionaires anymore" can help in finding a financial planner. Another Bankrate feature, "Reverse mortgages: Retirement's on the house" explains how a reverse mortgage might help you with managing expenses when you're living on just your Social Security income.