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<blockquote data-quote="inactive" data-source="post: 1328917" data-attributes="member: 7488">The comparison is fair when you realize the rent rate in most cities is far less than the cost of a mortgage payment.&nbsp; There are fees in selling a home, sure.&nbsp;&nbsp; Less if you can keep a Realtor out of the equation.&nbsp;&nbsp; But selling the home you get out from under the mortgage payment and into an affordable rent payment.&nbsp; As others have said, a retired senior with a house payment has already failed at financial planning.&nbsp; The home is just physical property - nothing magical about it.&nbsp; Realize this, sell the darn thing and get into something you can afford. If the home is paid for and there was some windfall debt amount that suddenly came up, I would rather take a mortgage out on the home to cover the bills and simply pay back the mortgage payments using the lump sum I received from the mortgage.I won&#039;t call a reverse mortgage a scam or anything, but I think there are other options that better serve people&#039;s financial needs.Oh, and I have moved several times in the last 5 years.&nbsp; Most recently, I moved a three bedroom house complete with appliances the 120 miles from Moore to OKC.&nbsp; Actually, I paid movers to do it all.&nbsp; I was out less than a grand. <img src="/images/smilies/anyone.gif"&nbsp; class="smilie" loading="lazy" alt=":anyone:" title="Anyone&nbsp; &nbsp; :anyone:" data-shortname=":anyone:" /></blockquote>

[QUOTE="inactive, post: 1328917, member: 7488"] The comparison is fair when you realize the rent rate in most cities is far less than the cost of a mortgage payment. There are fees in selling a home, sure. Less if you can keep a Realtor out of the equation. But selling the home you get out from under the mortgage payment and into an affordable rent payment. As others have said, a retired senior with a house payment has already failed at financial planning. The home is just physical property - nothing magical about it. Realize this, sell the darn thing and get into something you can afford. If the home is paid for and there was some windfall debt amount that suddenly came up, I would rather take a mortgage out on the home to cover the bills and simply pay back the mortgage payments using the lump sum I received from the mortgage. I won't call a reverse mortgage a scam or anything, but I think there are other options that better serve people's financial needs. Oh, and I have moved several times in the last 5 years. Most recently, I moved a three bedroom house complete with appliances the 120 miles from Moore to OKC. Actually, I paid movers to do it all. I was out less than a grand. :anyone: [/QUOTE]

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