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<blockquote data-quote="MaddSkillz" data-source="post: 1327853" data-attributes="member: 1159">Wow, I&#039;ve sat in a room full of people like this, explained Reverse Mortgages to them and they had a complete change of tune after the meeting.&nbsp; I really don&#039;t understand why people make blanket judgments on something like this.&nbsp; How is eliminating a house payment for a senior who can no longer afford it a bad thing?&nbsp; And where are people getting the idea that the equity is lost?&nbsp; Ever heard the phrase house rich but cash poor?&nbsp; That defines a lot of seniors today.&nbsp; What&#039;s wrong with a senior being able to live in their house and then using the equity in their house to improve their financial way of life?&nbsp; The only alternative (to stay in the home, and most seniors want to) would be to get a second home loan but then they&#039;d have to make payments, so that doesn&#039;t help their monthly expenses at all and can compound the problem.Are you all familiar with the growing line of credit?&nbsp; This is one issue that David Ramsey is completely wrong on.&nbsp; I&#039;d love to sit down with the guy and talk to him, but I&#039;m a nobody.So ask away, I&#039;d love to answer your questions as it seems many of you have the wrong information.</blockquote>

[QUOTE="MaddSkillz, post: 1327853, member: 1159"] Wow, I've sat in a room full of people like this, explained Reverse Mortgages to them and they had a complete change of tune after the meeting. I really don't understand why people make blanket judgments on something like this. How is eliminating a house payment for a senior who can no longer afford it a bad thing? And where are people getting the idea that the equity is lost? Ever heard the phrase house rich but cash poor? That defines a lot of seniors today. What's wrong with a senior being able to live in their house and then using the equity in their house to improve their financial way of life? The only alternative (to stay in the home, and most seniors want to) would be to get a second home loan but then they'd have to make payments, so that doesn't help their monthly expenses at all and can compound the problem. Are you all familiar with the growing line of credit? This is one issue that David Ramsey is completely wrong on. I'd love to sit down with the guy and talk to him, but I'm a nobody. So ask away, I'd love to answer your questions as it seems many of you have the wrong information. [/QUOTE]

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