REVERSE MORTGAGES-scamarama??

I've got a nice Makita thickness planer, too. If the cleanup weren't so terrible, I might have found a use for it in the past five years.

shhhh. If I live longer, thats where theyre going to go(unless he makes a note in his will.)

He spent a fortun on some of the helmets an hes got these old leather fire buckets.

Who said anything about a year in rehab?

Because that's what B-fly's post said....

If an owner has to move out of the house for a certain period of time--to a nursing home or a hospital, for instance--that absence could be enough to trigger the repayment requirement, Investopedia states. With an FHA reverse mortgage, the owner can spend up to 12 months in a nursing home without the debt coming due.

Maybe I misunderstood you. I thought you said you were concerned that if you had to leave your home for awhile, they could make you pay it back.

It looks like you can be gone up to 12 months before they could do that.

If you have left your home because you can't take care of yourself for an entire year, and are getting up there in years, chances are you're not going to.

I like that.

weve talked him into selling maybe next spring so he can stop worrying about a loose end like a house.

However, I think a numbr of older folks who are at least comfortable, are actually considering a "reverse morgage so they dont have to strap their hirs with a house which can be a majr pain in the ass.

I have heard that settling an estate with a reverse mortgage tends to be a nightmare.

unless youre the deadee.

Yeah. Basically it's like, oh my poor heirs I feel so sorry for....oh wait, no I don't, I'm dead.

A lot of people go to a lot of work and expense to organize the estate for their death, so that the kids have an easy time of it. I suppose if a person is doing a reverse mortgage they probably dont have much.

This story is certainly something incredible.

What kind of shape is the house in? That could drain his assets too. When my husband died I stayed for seven years then I sold. I was getting taxed to death and the place needed new windows etc. etc. etc. I was property rich.I downsized to 1,000 ft home near a lake and I’m happier than a clam.