Jul 14, 2012

A Survey: What do you think about "reverse mortgages"?

I received an email from a business that wants to post a guest blog related to reverse mortgages.  I really don't know that much about the subject so I am going to ask them to write something up for me.  But I want to know...what do you think?

Leave a comments please...I need your input.

b
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Twitter: barbblogtwits

9 comments:

  1. If I remember right this is one of Daves Ramesy's big No No's. He is my fall back guy in things I have no idea about. I would think by retirement most peoples homes would be paid off. To me selling the house and using the $$ if need be seems like a better idea

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  2. Big NO NO NO NO! I am with Debby who already commented. Many Seniors get into huge financial trouble with this one.

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  3. Makes me uncomfortable. I would never consider one.

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  4. Debbie, That was my memory too...mine comes from being 71 and living through having no money and having plenty. Spending what I make and not what I saved has always seemed like a good idea.

    b

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  5. Arizona2012, You are so right. Even when we get "old" we can count on living for a lot longer than we think and it probably is going to cost a lot more than we can dream. Debt is not a good thing especially now.

    b

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  6. Jannette, I cannot imagine a situation that I might consider the reverse mortgage but I am interested in seeing if there are things I don't know. I know for sure that it would be outside my comfort zone!

    b

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  7. Read this first, then make your decision.
    http://money.cnn.com/2011/02/01/pf/expert/reverse_mortgage.moneymag/index.htm

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  8. Thank you for the heads up Shelly.

    b

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  9. I read this article, survey questionnaire article very informative and interesting.Believe me i have never ever read this type of article, I refer your blog to many of my friends as well.
    Thanks for sharing knowledge..

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