Reverse Mortgage Basics
by Ralph Splendorio
Reverse mortgages are becoming very popular. There are many questions and myths concerning this helpful financial tool. The purpose of this article is to provide a broad overview of reverse mortgages as well as examples of loans. A reverse mortgage allows senior homeowners to turn some of their home ownership into tax-free income without selling their home.
Reverse Mortgages
by Gary Foreman
I am almost 80 years old, a widow, excellent health, no debts, my house is paid off, worth close to $200,000. I live on my social security with a small savings backup, and I manage to make my taxes and maintain a car and live well. My children think I should take out a reverse mortgage and spend the money doing some traveling. Are there any pitfalls in this?
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