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Dale Said:

What is the cost of a Reverse Mortagae Is it worth it?

We Answered:

A reverse mortgage is probably the worst deal on the market.

At best, you borrow $125K of the $250K house. The rest goes to fees and/or interest. You agree to pay insurance, property taxes and maintain the house. All of this is going to cost more money than if you lived in an apartment. If you fail to do this, move or move into a nursing home, they can take the property.

It's almost always a better idea to sell.