tryan
Thinks s/he gets paid by the post
- Joined
- Mar 25, 2005
- Messages
- 2,604
Dad looked at reverse mortgages after taking a hit around 2008 ... the FEES were cost prohibitive (12% !!). So he did a cash out refi instead. Lowered his rate and got some cash in hand.
That said, with no heirs and a cashflow problem .... that's really what the reverse mortgage is designed for . Moving at 80 is not everyones cup of tea, so if she's bent on staying in the house, go for it (reverse mortgage) ... the home equity might never be tapped for her use - otherwise.
That said, with no heirs and a cashflow problem .... that's really what the reverse mortgage is designed for . Moving at 80 is not everyones cup of tea, so if she's bent on staying in the house, go for it (reverse mortgage) ... the home equity might never be tapped for her use - otherwise.
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