You Too Can Be "House Poor"!

     Before you (or your parents) take out a reverse mortgage...read some of these columns please?

“This isn’t my first rodeo, And let me tell you something: I wouldn’t be here if I thought reverse mortgages took advantage of any American senior. Or worse, that it was some way to take your home. It’s just a loan designed for older homeowners, and it’s helped over a million Americans.”

     This isn't my first rodeo either. But unlike the TV pitchman Tom Selleck, nobody is paying me big-bucks (or any bucks) to provide this information.

Up first: The Federal Bureau of Investigation...the FBI... issued a warning about Reverse Mortgages!

 And some other reports about the loans:

https://www.businessinsider.com/reverse-mortgage-what-it-is-and-why-its-a-bad-idea-2018-4

https://www.daveramsey.com/blog/how-reverse-mortgages-work 

https://www.experian.com/blogs/ask-experian/what-is-the-downside-to-a-reverse-mortgage/