Tag: Estate Planning
Ask Stacy: Should You Take Out a Reverse Mortgage?
Filed under: Mortgages, Real Estate, Personal Finance, Estate Planning, Financial Education Getty Images By Stacy Johnson Reverse mortgages are a popular topic these days, as evidenced by three questions I’ve received in just the last three weeks: Is a reverse mortgage something to look at? We have a 30 year mortgage on our house for $70,000 and thought it might be easier to let the house make the payments for us. The house is worth somewhere around $225,000. -Roger Can you give me a real, down-to-earth, honest-to-goodness explanation to the reverse mortgage currently being touted to seniors 62 and older. It almost seems like it’s too good to be true, and you know what they say about those kinds of deals! -Larry What is your