No. of Recommendations: 2
M is not is a position to handle the risk of vacancy or unexpected repair on the rental.

Are the siblings willing to buy the rental property at the value of the mortgage? If they believe that the property is worth keeping, then taking over the property would be a reasonable choice.

(Buying a rental or home with most of your retirement savings is not a good idea.)

Removing the rental cost, she will have an extra $250 a month, which should ease the cash flow issue.

Is the $400 a month, payments on the credit card or decrease in balance? If it is the decrease in balance, then she could continue to make payments on the cards. Possibly reducing the payments by $100 a month. If it is total payments, then she has a more serious problem.

Bankruptcy is not not or never. She can review her situation every 6 months. With a $400 a month principal payment, it will take 50 months to pay off the debt.

How is M's health? Is she currently working? Senior centers often have services to help seniors find part time work. A little additional income would help.
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