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The Moneyist: My 94-year-old mother-in-law racked up $68,000 in debt—or someone did it for her

Dear Moneyist,

My 94 year-old mother-in-law has an unusual amount of debt for someone her age.

She owned her Michigan home free and clear before she opted for a home equity line of credit (around 2009, I think), which now has a balance of roughly $43,000. And she definitely does not understand the complex details of the variable rates, the principal locks, etc. The market value of this home is very likely worth less than $20,000 maximum.

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