[shove_it]

I considered a reverse mortgage in 2007 when my house was worth 50% more than it is today. Bad move passing on it back then!

[Joan Kerrey]

I considered a reverse mortgage in 2007 when my house was worth 50% more

I know of several who got a reverse mortgage in 2006 when prices were high. One in particular is interesting that she got $200,000 on a free and clear older home and then died, leaving her son an inheritance of cash. He chose not to try to sell because of the market and let the bank have it. The bank took the house and it recently sold for $130,000. It turned out to be a good deal for the son who otherwise would have been stuck buying out the mortgage on a worthless piece of property.