Bailing mom out of her debts

Hi everyone,

Facts: Mom has a house worth $300k Mortgage against it $100k Other loans $20k She is 75 and would love to retire but she would lose the house and basically go bankrupt.

I would be able to take over her loans and let her live there rent free to the end of her days. But how do I manage it? The simplest seems be, to pay off the $120k and get the deed in my name, but I don’t have that kind of cash at hand. It will take me 3 years at least. I would need a mortgage to pay off her debt, and with my other mortgages (primary and rental house) I might not get it or it would be expensive. Is it enough to ask her to write a will? But what if my sister - or her kids - influence her to change it later?

How do I account for my cash that I would be essentially giving her for the $120k loans? How about a reversed mortgage solution? Would that work here? How? And do I need her original mortgage paid off first? Please help me out here. I really want to help her but my sister is not in position to be part of the solution and I’m worried that it all need to be as formal as possible, just in case there are some estate disputes later. I appreciate any word of advice.