Reverse Mortgage?
Does anyone here have any experience with reverse nortgages? Wife & I
have finally realized that we will never leave our present home. We
have no heirs. We have a little savings, but we live mosly on SS. But
there must be some major downsides.
Our state seems much like yours. The only experience with
reverse mortgages to date is the printing of several pages
of information from
http://www.aarp.org/revmort/
We are in our late 60's and have wondered about reverse
mortgage, but haven't done any serious study as yet.
I still have one client, the income from whom nicely
augments our social security. If the client goes away,
we will be only on social security, and a reverse mortgage
might keep the wolf away from the door.