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Old 09-21-2013, 04:36 PM   #21
Dryer sheet wannabe
Join Date: Jan 2011
Location: Columbia, SC
Posts: 24

From what little I know about reverse mortgages plans like "do a reverse mortgage to pay for a nursing home" would not work. The reverse mortgage becomes due and payable 6 months after the borrower leaves the house or dies. In other words, as soon as you leave the house you have 6 months maximum before they take it, unless you or your heirs can pay it off.
I would consider a r.m. on one of my rental properties but no can do.

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