[winodog]

RM’s are EXACTLY like taking candy from babies at this point. Every time the housing market falls, the assets the geezers are sitting on go up in value to the bank.

I am not sure how they work. Lets say I own my home outright and its worth 100 grand in todays market.

Thanks in advance

[RinaseaofDs]

“I am not sure how they work. Lets say I own my home outright and its worth 100 grand in todays market.”

A Bank appraises your home and say, “Your home is worth $200K now, leaving you with $100K in equity. We will allow you to live in your house rent free. We will then pay you X per month for Y years, or you can have the whole amount now lump sum. We take title to your property once you die. You agree not to damage or otherwise ruin the property.”