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Nora Said:

reverse mortgages. good or bad ???

We Answered:

The reverse mortgage is both good and bad. Make sure it is the right decision for you. There are a lot of options.

Delores Said:

Who are Reverse Mortgages good for?

We Answered:

Reverse mortgages might not be good for anyone, but are only available to those that are past the age of 62 year of age.

Then that person or persons have to see if it fits into their financial plans or not.

If a person decide to apply and get a reverse mortgage then it reflect on how their children inheritance.

So a lot of thought should go into the decision as to if you would want to get a reverse mortgage or not.

There are other financial plans available this is simply one.

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

Felix Said:

how many of you taken a reverse mortgage on your home? was it a good thing? or a bad thing? ?

We Answered:

You can certainly take out a reverse mortgage, but examine very carefully the obligations which will come with such a situation. In a reverse mortgage, you are borrowing monies against your 'equity ownership' in the property. Assume the lender gives you $80,000 against your ownership. You are expected to pay it back to the lender at some point, in order to again have full ownership.

My guess ? I'd venture you are far better off to attempt to make repayment arrangements with the medical providers involved.