Quote:
Originally Posted by joanofarctv
I've heard that there are lots of lenders available offering reverse mortgages in TV. Citizens First does them too! Maybe you need to check them out! I don't know alot about them but if I get pinched I might check them out as I know some people who have them.
|
Reverse mortgages should only be used as a desperate last resort solution.The upfront fees are staggering and very profitable for the lender.They are very expensive loans and not a beneficial long term solution.They can also have an impact on medicaid eligibility.The cons far outweigh the pros, and should only be considered after a very thorough examination of your individual situation, and exploring options that could be more advantageous .