Reverse Mortgage Facts
I have had a lot of people asking me about reverse mortgage pros and cons because they have just seen a commercial on TV and though that this could be the right thing for them. The main thing about reverse mortgage is that it enables you to get a certain amount of cash, without having to make any monthly payments on it, but the principal is still there and interest keeps accumulating every month. Eventually, you will have to pay this debt, so the lender gets your home in case you decide to sell it or die. Yes, it's scary and it means that your children won't inherit it, so you should only consider it if you don't have anyone to look after for.
