I've looked into them pretty extensively, to advise clients.
They can be useful to increase cash flow, IF you don't care if your property is passed on to your heirs. By the time you die, the mortgage on the property will be pretty hefty, and if your kids are in good enough financial shape to bail it out then, maybe you could sell to them now and reserve a life estate, to get more income. They're especially useful if you have good equity in the place, you either don't have kids or don't have any that you care to pass it on to, and you would rather stay in the place than sell it.
Also, the reverse part (how much you'll get monthly) is figured on actuarial tables, so the older you are, the better deal they are. Probably not worth bothering with if you're not at least in your 70's.
There will be many who will respond that "they're a ripoff, the bank is stealing your house." Well, not really- the bank is BUYING your house and letting you stay in it, and giving your heirs the chance to buy it back after you die.
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Today's Featured Article - Engine Valves - Some Helpful Information - by Staff. Intake - On the intake stroke the piston moves doward, sucking in carburized fuel through the open intake valve. Exhaust valve is closed. Compression - With both the intake and exhaust valves closed, the pistons upward stroke compresses or squeezes the fuel into the combustion chamber. Firing - Ignited by the spark, the compressed fuel explodes and forces the piston downward on its power stroke. Intake and exhaust valves are closed. Exhaust valves and seats are exp
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