You do realize he is only advertising in the Mortgage section which is perfectly acceptable.

Or TOTV could drop advertisers and you can pay the bills for them to keep this open.

You know the poster and the topic he is PAYING to advertise. Don't open the posts and give yourself chest pains.

That's why you have a RM and not an equity loan, there are no payments. The bank appraises the home's value and you withdraw from a fund that is about 45% of that amount. It's paid back when both occupants die and they get the home. If the home is sold for less than the amount owed, then whoever you designated will receive the balance. The $200 a month is part of the loan that has to be paid off.

In order to qualify you must own the home outright and both occupants must be 62 years of age. The bank has calculated the length and risk of what they're doing just like you will calculate the risk of what you're doing. If I don't plan on moving, have no heirs, I don't see any risk in using cash that would not be available otherwise.

My father had a RM and it was the best thing that could have happened for him. He died at age 93, had pulled out well over $90,000 on a condo worth $50K with his RM and after he passed the bank could do what they want with it. So far it has sat empty and foreclosed upon for 3+ years in 90 degree south Florida heat and must be rotting away from mold inside. No way he could have continued to live there without it. When he applied for the RM they appraised his little condo for $180,000 when they were selling for $50-60K.