My mom is 76 under a 67K loan with mo payments of 475 on 7.55 fixed rate. Is on fixed income total of 1,100 mo. Would reverse mortgage be a good option for her? In today's financial climate, who can you trust? I know there are a lot of smart people out there and I need to know the pros %26amp; cons. Property value of approx 100K. I don't want to steer her wrong, but I have limited knowledge of financial matters.Opinions on Reverse Mortgages?
in most cases it is a great deal == but the way i read it she has only 33k clear in her home -- it might not be worth it -- but your best bet is go to a bank that handles reverse mortgages and get there opinions!!!
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