Hello and thank you for being a DL contributor. We are changing the login scheme for contributors for simpler login and to better support using multiple devices. Please click here to update your account with a username and password.

Hello. Some features on this site require registration. Please click here to register for free.

Hello and thank you for registering. Please complete the process by verifying your email address. If you can't find the email you can resend it here.

Hello. Some features on this site require a subscription. Please click here to get full access and no ads for $1.99 or less per month.

Eldergays, did any of you do a reverse mortgage?

If so, would you be willing to share the circumstances that led to you considering one and how (so far) it has worked out for you? My mom is going to be retiring sometime in the next few years and with my dad's recent passing, I've been helping her out with several things -- including consultations with certified financial planners. One CFP mentioned that a reverse mortgage MAY be one of the scenarios she'd help my mom map out for how she could remain in her current home at retirement and maintain positive cashflow. Her house is estimated to be worth about $1.3 million (though, here in crazy California, its value will likely be higher when she retires in 3-4 years) and her she owes $375k on the mortgage.

I should note, the CFP said that, generally, she doesn't recommend reverse mortgages, but in some cases, depending upon the client's personal circumstances, it can be a viable option worth considering.

Offsite Link
by Anonymousreply 0October 15, 2021 11:24 PM
Loading
Need more help? Click Here.

Yes indeed, we too use "cookies." Take a look at our privacy/terms or if you just want to see the damn site without all this bureaucratic nonsense, click ACCEPT. Otherwise, you'll just have to find some other site for your pointless bitchery needs.

×

Become a contributor - post when you want with no ads!