Of course, I am not old enough to get one.  And it would not take you long to read my blog to learn that I am a big proponent of them, and I get annoyed when people spread completely false information about them.  If they chose not to get a reverse mortgage based on correct facts, that is certainly OK!  Of course, I only want correct facts being spread about them, BUT, for this blog, I am in one of my curious fact & opinions seeking moods. Whether you are a reverse mortgage specialist, and have 25 years experience, or have no first hand knowledge of the correct facts about reverse mortgages, I am curious what your reply would be if someone you really care about posed that question to you.  If it was a parent or parents, sister, brother, 20, 30, 50 year friend, next door neighbor, etc.  if they posed that question to you, what would you say, and how would you back that belief, opinion or fact up?  If it had a bearing on inheritance (such as parent) would that influence your reply?  If no inheritance would you reply differently?  Would the severity of any financial problems influence your statements? - ie: had money stay away, need money go get one ASAP to save your home.

I know the facts about the costs, the interest rates, FHA/HUD involvement, etc., and I recommended my mom get one.  She did not, and still does not need the money.  Do I want the biggest inheritance possible, sure I do.  But more important to me, I feel it is her money, she earned it, and I want her to have whatever amount of time left here to be as enjoyable and comfortable as possible.  If she wants to take a vacation, go have fun & enjoy it!  If she needs a little extra cash for a hobby, or anything else that makes her happy, go for it!  With a reverse mortgage, not only does she have access to her savings, social security, pensions, etc, but she also has access to the money in her home, and knowing she only HAD to pay taxes & insurance, makes more money available for her enjoyment now, and if ever short on money, she would already have access to any additional money that she might need for health care, food, or any other luxury or crucial necessity need.  Does having a reverse mortgage potentially lessen my inheritance, sure, it does!  But is her happiness and retirement time more important, yes it is!!!

If you see blatantly false comments on this blog, don't worry, I'll make a brief statement and try to lead them to correct information so they know the correct facts.  But I am curious to hear from everyone, even if it is just an opinion or belief you have based on statements that you have heard others say.  I expect these people in particular to have the most incorrect information.  But all the way on the other end of the spectrum, I also want to hear from reverse mortgage specialists - why would you have your loved one get a reverse mortgage, or not get one, and why?

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Title companies & mortgage brokers, help your borrowers- arrange to have their loan signed and notarized in their home, at their convenience by a Certified Notary Signing Agent (CNSA)

Browse The Rain for a qualified and Certified Notary Signing Agent in your area.

Southwest Florida Notaries is open for your mortgage closing 24/7 at your location (Based in Murdock, FL, near Port Charlotte FL, but covering all of Southwest Florida - Manatee, Sarasota, Charlotte, Desoto, Lee and Collier counties)