Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Personal Finance and Investing

lastlib

(28,006 posts)

5. They're a GREAT deal--for the mortgage company!

Reply to Bayard (Original post)

Mon Mar 2, 2026, 10:04 AM

Monday

They get a valuable appreciating asset, you get cash that isn't growing, and is getting spent. And you have to maintain the asset (at your own expense, of course). They're essentially buying your house out from under you. And this isn't even mentioning the horror stories, like those cited above. I would never advise anyone to get a reverse mortgage.

My 2cts.

(BTW, this is exactly the right forum for your question!)

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

6 replies

= new reply since forum marked as read

Highlight:

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