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Personal Finance and Investing

Grins

(9,385 posts)

3. AVOID!!! Lots of articles out there.

Reply to Bayard (Original post)

Mon Mar 2, 2026, 02:08 AM

Yesterday

Think of it as a credit card with all your equity from the sale, say $100,000, given to you by the reverse mortgage company.

You think you have $100k, but it’s actually an annuity to the mortgage company. And every month they take their cut. And one day, years later, you turn around and, “Where’s my dough???”

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Americanme lastlib

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Reverse Mortgages [View all] Bayard Yesterday OP

We had a neighbor, an elderly gentleman, who apparently did one of those. It was not uncommon alwaysinasnit Yesterday #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 Yesterday #2

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

I know a married couple, in their Seventies and Eighties. no_hypocrisy 19 hrs ago #4

They're a GREAT deal--for the mortgage company! lastlib 16 hrs ago #5

Thanks for the input, folks Bayard 14 hrs ago #6