Reply to Thread

This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.

Message: <blockquote data-quote="Larry Morgan" data-source="post: 1328235" data-attributes="member: 4676">I think the reason this appeals to people is that they really don't have a use for a house when they are dead, so they take this as an option. HOWEVER, the reason it feels quite dirty is this: You had to pay the bank interest when you bought the house, and if you go this route, they get interest AGAIN, thanks to your house. Not only that, but since it's compounded interest, the debt grows exponentially, and it's pretty easy to lose all equity in the house by the time you sell or whatever.  That's the price you pay, though, for accepting the reverse mortgage.</blockquote>