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Super Contributor
Rainbows and Roses
Posts: 2,248
Registered: ‎06-04-2011

Reverse mortgage

‎11-20-2012 03:58 PM

I was listening to CNN and someone came on to talk about it......I see advertisements all of the time. I thought a person was acutally giving up their home for the equity in their home......because they needed money but could live in the home until they pass on........no they have to pay the money back and the interest is so much higher.

Why would an older person take out this home reverse mortgage? I know you have to be over 52.

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