Here is a slight tangent to the topic.
We purchased a CYV late last year that is walking distance from LSL to use as a rental property. It is a major fixer-upper. The home was owned by the estate of a widower. The former owner was very likely mainly living on SSI because the house had a reverse mortgage on it and was way under water. Negotiation of the purchase was very difficult because the trustee and the bank did not want to take a haircut on the sale of the property.
We were told by the realtor (who may or may not know that they are talking about) that this is common in the villages and houses languish on the market because a bank and/or estate would rather sit on them than take a loss.
The relevance to the topic at hand is....for villager living on social security and whose main asset is their house, are reverse mortgages common? If so, that is one way that villagers living on SSI could make ends meet. Although it seems like a very painful way.
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