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Reverse mortgages don't prevent death. In my market, we have a lot of people of advanced age, and when they are gone entire neighborhoods will suddenly be avail
by coward123 4y ago
Reverse mortgages don't prevent death. In my market, we have a lot of people of advanced age, and when they are gone entire neighborhoods will suddenly be available. From what I can tell, this is true in a surprising number of areas around the country.
- sombremesa 4y ago> Reverse mortgages don't prevent death Except in this case: https://www.chicagotribune.com/news/ct-xpm-1995-12-27-9512280029-story.html https://www.chicagotribune.com/news/ct-xpm-1995-12-27-951228...
- hammock 4y agoThey don't prevent death, they sell your house bit by bit back to the bank, until there is nothing left to inherit. And the trend these days is for financial institutions to hold housing stock as rental properties, not to put it on the market.
- nly 4y agoA reverse or lifetime mortgage means there's a reduced inheritance for the next generation. It's also a steady process meaning there's no sudden surge in supply.