[Irish Eyes]

I sold reverse mortgages in a previous life. They are government backed and a good deal for a certain type of senior. Do you realize that the borrower has no mortgage payments in such an arrangement and are able to access a good portion of their equity?

I am very curious, what type of senior would this be good for? My father-in-law took one out, then changed his mind and paid it off.

[2ndDivisionVet]

1.) Seniors with lots of equity in their home but little or just fixed income. Remember, these mortgages end the borrower having to make payments and helps them take out a portion of their equity (usually a bigger percentage the older the borrower is) (2.) Seniors with more than one home. (3.) Poor borrowers in high dollar real estate markets....