Originally Posted by haha
I don't know. But I would at least see what you could get with a refinance. Then you could compare the reverse mortgage to a cheaper regular mortgage.
That is a good idea considering mortgages -30yrs- are under 5%.
Also, are you sure you will see the 27K? I've read that the fees on reverse mtgs can be high.
Also, income taxes (401k) are probably lower now then they will be in the future. I'm not suggesting paying off the house with a withdrawal from the 401k but you could look at taking out enough to stay withing the lower tax brackets and use the money to pay the loan off faster.