They have their place, but it will affect your kids inheritance, obviously.
Lot’s of fees.
Horrible deal. Don’t do it. When you die they will instantly foreclose and your heirs will have to scurry to find the funds to fend off the lender. If they can’t get the funds fast enough your house will be taken for a fraction of its worth. Lots of great suggestions in this post as to alternatives. Easiest is sell out and rent.
Horrible deal. Don’t do it. When you die they will instantly foreclose and your heirs will have to scurry to find the funds to fend off the lender. If they can’t get the funds fast enough your house will be taken for a fraction of its worth. Lots of great suggestions in this post as to alternatives. Easiest is sell out and rent.