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Did you see the movie? It was a poor family that put all their money into a house, then lost it through a reverse mortgage. “Privilege and greed” is a slapdash
by abalone 8y ago
Did you see the movie? It was a poor family that put all their money into a house, then lost it through a reverse mortgage. “Privilege and greed” is a slapdash accusation here.
Some families struggle to put their life savings into a home and don’t have anything left over for other investments. What you’re proposing is still going to place pressure on seniors to move lest they lose a lot of estate value.
Basically I think you’ll find support for doing this go to rich who can afford it. But a blanket shift to liens on cash-poor seniors’ homes could end up disproportionately hurting the less fortunate.