If you take out a $100,000 reverse mortage when you're 62 and
live for 20 years,
the balance due when you die will be almost $400,000.
That could wipe out all of your home eauity,leaving your heirs
Reverse mortages are often presented as a way to help retired
their RV or condo in Florida, but the product is right for only
a small number of people.
It's for someone who has no family left, is in their 80s and
wants to die in their
house, and has no other optionds.
Before signing up for a reverse mortgage, explore other options
with your financial adviser.