Are Reverse Mortgages Good for Retirement Income?
You may have heard of a reverse mortgage or seen advertisements about the benefits of a reverse mortgage. Basically a reverse mortgage is a loan on the equity of your house. Reverse mortgages are clearly not meant for wealth building or asset protection and should not be considered a wise investment strategy. Think of a reverse mortgage like a pawn shop for your home’s equity and the pawn shop allows you to continue living in your house. In order to get the equity back you...
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