Are You Thinking About a Reverse Mortgage?
A reverse mortgage allows a homeowner to tap into their equity to supplement their income for whatever reason that the homeowner desires. I have mixed emotions on this issue. While I am not an expert on those mortgages, I do know enough to say that I am not extremely comfortable with them. My first concern is that there is no one-size fits all situations that each family falls in to. Accordingly, before this type of mortgage is entered in to, I would suggest a heart to heart discussion with your spouse and any descendents which may be affected by this decision. Read the rest of this entry