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The Water Cooler
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Reverse Mortgages
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<blockquote data-quote="dlbleak" data-source="post: 1328769" data-attributes="member: 6795"><p>wow, what a response. i should have mentioned that she is still able to put away around $500 every month. she just feels that she would be more secure knowing she had no house payment and money coming in. my wife and i have tried to explain to her that the monthly money she is receiving is hers that she's already paid on the house!</p><p> i've tried to explain to her that this is just a bad idea and should be used as an absolute last resort. in fact,selling the house before an RM is a better idea.</p></blockquote><p></p>
[QUOTE="dlbleak, post: 1328769, member: 6795"] wow, what a response. i should have mentioned that she is still able to put away around $500 every month. she just feels that she would be more secure knowing she had no house payment and money coming in. my wife and i have tried to explain to her that the monthly money she is receiving is hers that she's already paid on the house! i've tried to explain to her that this is just a bad idea and should be used as an absolute last resort. in fact,selling the house before an RM is a better idea. [/QUOTE]
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