You may be seeing and hearing ads about reverse mortgages for those over sixty. Be careful, should you consider one, as the step would be similar to taking home equity lines of credit.
Larger banks no longer make reverse mortgages because of inherent problems, many from the homeowner’s point of view. Remember to be aware of all the provisions, including the fact that you have to continue to pay your real estate taxes and insurance on the property. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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