I have no idea why you would make such a blanket statement. But I am delighted to be under the same blanket with Tom Selleck!
Seriously, a reverse mortgage can be a wonderful solution in the right circumstances — for someone who plans to age in the same home for at least 10 years, and has other resources to pay property taxes, insurance, and maintenance — and who is not worried about leaving the home to heirs. This stream of income can make all the difference. Please read the version of this column posted on my website. It tells the story of my own father’s reverse mortgage.