Reverse Mortgage

[rsay777]

I thought I saw a Reverse Mortgage thread here but can't seem to find it.

I'm contemplating an RM myself and would like to find a source where I can get answers without marketing hype.

I see online many pro/con descriptions, but I would like to have specific questions.

Anyone know the best way to get started? Thanks.

[RP]

Was it this one? https://www.acousticguitarforum.com/...light=mortgage

[radiokid]

Highest and best are for those with no heirs and no one they want to have the house and wish to live in the house until the paramedics carry them out.

[Mandobart]

Here's the same thread from January 2023 that RP referenced above.

[LAPlayer]

Originally Posted by rsay777

...I see online many pro/con descriptions, but I would like to have specific questions. Anyone know the best way to get started? Thanks.

There are a lot of smart people herein but your financial wellbeing should be evaluated by your (or a ) financial adviser. Someone who knows your entire income, debt, investment, social security, pension, real estate status..... to advise you how to proceed in any financial ventures. Frequently, your insurance agent will have someone they recommend as part of your overall financial security and protection.

[rsay777]

Yes Radiokid. Your description for whom the RV might work for is exactually where I am.

no heirs etc.

I will have a Q&A with a RM person at my credit union this week. I may actually be able to by a $$$$ Guitar. Thanks, for the responses.

[Mr. Jelly]

I apply a sports term for these types of end-of-life decisions. Playing out the clock. I don't see any reason for a person 80 plus gambling on long term investments. Or eating dog food to save money to pass on to their children.

[The Watchman]

Here's a source for basic info: https://files.consumerfinance.gov/f/...sion-guide.pdf

[TomB'sox]

Here is the current thread: https://www.acousticguitarforum.com/...d.php?t=663396