Dave would love this thread....
I was just thinking yesterday about these reverse mortgages.
They just came about a few years ago right?
Is this another way to get the older peoples money?
Let’s say health care passes (God forbid)and there was
that clause in there about having access to your bank
accounts - would that be a way that they would take these
older people’s money? Whereas before they would not have
had any money available and now they do???
Dave never recommends taking out a reverse mortgage. The closing costs are a huge scam. He tells folks that they would be better off taking out a straight mortgage and making payments out of that loan.
He hates debt and that shows just how much he hates the reverse mortgage.