Reverse Mortgage Downside

The downside of a reverse mortgage is that you may not get as much as you could if you sold the home. This is really only an issue if you are wanting to leave your family with some sort of inheritance. They will take into account how much longer they think you are going to live when they decide what to pay you on a per month basis. This works out really well if you end up being healthier than they anticipate. If, however, you end up dying within a few years of getting the reverse mortgage, then you would have been better off with keeping it. Some don’t have a choice though if they are out of money. More info: reverse mortgage Utah

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