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Personal Finance and Investing

alwaysinasnit

(5,591 posts)

1. We had a neighbor, an elderly gentleman, who apparently did one of those. It was not uncommon

Reply to Bayard (Original post)

Mon Mar 2, 2026, 12:40 AM

Monday

to go weeks without catching sight of him - he was not very friendly. The first indications we had about his passing were the legal notices posted in several places on the front of the house. Long story short, the adult child/children fought the reverse mortgage and won. Apparently the old gentleman might have had some cognitive issues that the reverse mortgage company took advantage of. My best recommendation is to consult with an experienced attorney about the potential pitfalls. You can try going through a local lawyer referral service. Good luck!

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lastlib

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Reverse Mortgages [View all] Bayard Monday OP

We had a neighbor, an elderly gentleman, who apparently did one of those. It was not uncommon alwaysinasnit Monday #1

From what I've read or heard, it's a bad choice for most people. If you outlive the term of the mortgage, you may lose 3Hotdogs Monday #2

AVOID!!! Lots of articles out there. Grins Monday #3

I know a married couple, in their Seventies and Eighties. no_hypocrisy Monday #4

They're a GREAT deal--for the mortgage company! lastlib Monday #5

Thanks for the input, folks Bayard Monday #6