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Reverse Mortgages
Old 07-13-2015, 10:00 PM   #1
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Join Date: Jul 2012
Location: Peru
Posts: 6,304
Reverse Mortgages

DW was browsing and came up with a website she thought might be interesting to me.
Spoiler... definitely not for me, but one you might come across in looking up retirement information. As far as I'm concerned, not in my best interests as it continually suggests membership and paying for financial advice. That said, it could easily be a come on for non sophisticated retirement planners. I skipped through several of the exercises, just to see the advice. I was not impressed. FWIW, Here's the link:
Retirement Calculators & Sound Analysis for Retirement Financial Planning

That said, there's a section on reverse mortgages that you might want to be aware of... if not for yourself, then possibly for a parent or elderly relative. For starters, I'd suggest this, before going to any website that features reverse mortgages.

So... who to trust? And are there circumstances where you might have to understand the plusses and minuses? In my case, an unplanned catastrophic expense could make a reverse mortgage necessary. Knowing the actual costs might make it more reasonable. In any case, knowing is better than not knowing.

It would be interesting to hear about any experiences with this, and to hear about alternative suggestions that could influence this kind of major decision.

The google searches tend toward "no way"... but why?

Your thoughts or experience with reverse mortgages?
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