Reverse Mortgage Might Leave Your Children Homeless
Posted by admin on December 28, 2007 in Finance :: Mortgage & Debt
In my own personal opinion, the biggest issue related to reverse mortgage is that you might not have anything to leave to your heirs. A reverse mortgage loan is a type of home loan which supplies you with a certain amount of money, but eventually, the bank will become the legitimate owner of this home once you no longer live in it for whatever reason that might be. There is a possibility to use just a part of your home, so the remaining equity in your home, if any, belongs to you or to your heirs. But if this home is all you and your relatives have as a home, then you should probably pass on on reverse mortgage.
