The way these work is to essentially turn your house into an annuity. You're selling your house, presumably at below-market price, but instead of cash you get a guaranteed cash flow plus the right to live in your house. I assume you have to agree to keep the house insured and in good repair. I would also assume that you agree up front to let them make repairs out of your annuity proceeds if they deem repairs are necessary and you don't take care of them in a reasonable length of time.
Back when interest rates were high it made a lot more sense than it does now. With real estate values in the toilet and interest rates close to zero, you're better off to hang on to your house if it's paid off or you can afford to keep making payments.
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Today's Featured Article - Show Coverage: Godfrey, Illinois Country Days - by Cindy Ladage. Except for last fourth of July's Old Gold show in Springfield, Illinois, I don't remember when it was so hot. Nevertheless, the heat didn't keep vendors and visitors alike from enjoying the third annual Country Day's Event. Jane Elliott said the event was originally a one man show. "Barry Seiler, owner of Country Town Farm Supply store used to invite people up to the Johne Deere store. He would give hats and a free meal for everyone that brings a tractor." Elliott said while this
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