Reverse mortgage column
You fail to mention that you have to pay ever increasing real estate taxes.insurance and maintaining and repair costs. Also you gain no further appreciation even if you live there 20 more years. They are a rip off.
Terry Says
Well, you’re wrong on two counts. I clearly mentioned that you are responsible for upkeep, insurance and property taxes. And that is why the lender checks your finances carefully.
And YES, you do get any appreciation (or your heirs do) after the RM debt is repaid to the lender.
