Comment by jgalt212
6 hours ago
Reverse mortgage FTW! I say in jest because this can be a good structure, it's often associated with shady business practices.
6 hours ago
Reverse mortgage FTW! I say in jest because this can be a good structure, it's often associated with shady business practices.
There is a gov't web page about this product: https://www.hud.gov/hud-partners/single-family-hecmhome
That page has a telephone hotline that people can call to get advice, including help to find a reliable broker. Probably the biggest problem with (honest) reverse mortgages is that they can run out of money before you die. You can continue to stay in your house, but you probably immediately fall into extreme poverty.