Before I start giving away more great stuff about Reverse mortgages, I wanted to give a few examples of completely worthless, and sometimes incorrect stuff that is out there about Reverse Mortgages, if you should happen to search for them.
The first one is an article called "The 5 Key Reverse Mortgage Facts Before You Decide". Here is the link if you want to waste some time: http://www.articlesnatch.com/Article/The-5-Key-Reverse-Mortgage-Facts-Before-You-Decide/1269993
In fact almost none of the five things are remotely important in the decision to make about whether a Reverse Mortgage is right for you or not. "Take the counseling seriously" Are they serious? How about looking into what your financial needs are and whether a Reverse will satisfy them.
Another example is called "A Clear Picture Of What A Reverse Mortgage Is" Its is accurate, but not very helpful. Any explanation of a Reverse Mortgage that starts out with "With the reverse option you get a payment sent to you." is not really getting to the point, especially when in teh vast majority of Reverse Mortgages, it is not true. Here's the link: http://articles.directorygold.com/Article/A-Clear-Picture-Of-What-A-Reverse-Mortgage-Is/442579
There are so many examples of bad articles, confusing pieces and in most cases they are written by someone who either does not understand the product or is just unable to explain it clearly. What I am trying to do is undo these and explain Reverse mortgages in a way that ANYONE can easily understand them. This is not easy, but I will do it.