Maybe reverse mortgages are ok for some. I’m not sure! They don’t make a lot of sense to me.
BTW: Fred has a new book...
“Teaching the Pig to Dance”
There's nothing inherently wrong with reverse mortgages, and for some people they make a lot of sense. Many people end up retired with little or no income and only one big asset: their house. By then, their house is probably even paid for (or nearly so). A reverse mortgage basically lets them sell the house (or a part interest in it) to the company in exchange for a regular monthly payment, and the right to continue to live in the house for the remainder of their lives.
They get the security of a place to live and a regular dependable income for life. The only people that lose out are their beneficiaries, if any. But hey... it's not their money anyway.