my 80 year old father has a reverse mortgage on his house. It clearly states in the paperwork that it cannot be used as a rental property. He insists that he is going to rent it out because he needs the income and move back to Oregon because the altitude is better for his health. Numerous people have told him that it is illegal to rent the house with a reverse mortgage but he will not listen. The people include everyone in our family the loan officers who are trying to help him get a loan for another house in order again and several others. Is it a sign of a disease like dementia or is he just being a stubborn old man? he also told the loan officer in Oregon that he has income from this house already when he doesn't. Any advice appreciated.
If this illogical behavior is recent and/or if he has other "odd" behaviors, then, yes, it would probably be good to convince him to have a medical evaluation. But if this behavior is just more of how he's always approached life, then I'm not sure you need to look for a medical explanation.
Let's assume that you are able to get Dad in for an evaluation. The results suggest that he is in early stages of some kind of dementia.
Then what?
Well, it will help you to know this as you try to look out for his best interests. So it is worth knowing. BUT it is highly unlikely that he will be declared incompetent to handle his own affairs at this point. So how are you going to prevent him from making self-destructive decisions, taking illegal actions, and messing up his finances totally?
In addition to trying to have him evaluated, I think a consultation with an attorney who specializes in Elder Law could be useful. Explain the situation and ask for legal ways you can keep your father from getting himself into serious trouble.