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Think of the reasons you were considering getting a reverse home mortgage in the very first location: Your budget is too tight, you can't manage your daily expenses, and you don't have anywhere else to turn for some extra cash. Suddenly, you've drawn that last reverse home loan payment, and after that the next tax bill happens.
If you don't pay your taxes or your other bills, the length of time will it be before someone comes knocking with a home seizure notice to remove the most important thing you own? Not very long at all. And that's maybe the single biggest reason you should avoid these predatory financial products. https://www.instapaper.com/read/1411179928 |
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