Posted by LOU from WI. on November 15, 2010 at 17:31:12 from (174.124.87.189):
Dad"s been seeing alot of these reverse Mortgage Commercials, and it had him wondering what the catch is. Do they give you so much on the dollar for the house, and you keep it up (maintanence)to their specifications,and then after you die, they sell the property for more than they gave you?Or does it get worse? As in you can only use so much of the $$ and the rest goes to a bank account, if they don"t like what you have done for maint. they hire some overinflated carpenter to come out and do some work and charge you for it? He tried looking on line for some information,but they all want personal information,IE SS#"s DOB- so on and so forth. So thought we"d ask here, after all the best advice is free.Or is it you get what you pay for? LOL. Thanks, Victor
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