Reverse mortgages can be complicated so it’s imperative that you understand how the loan is repaid, the monthly costs and potential scams to look out for.
Get a large wad of cash! Never make a mortgage payment again! Stay in your home as long as you want! Sounds like a great deal, right? Well, for some older homeowners, a reverse mortgage can be.
For others, it’s more perilous than promising. If you’re considering a reverse mortgage, there’s a lot you need to know before signing on the dotted line.
Here’s 10 things you need to know about reverse mortgages.