A few weeks ago I had a buyer ask me about my knowledge of reverse mortgages. Since I have had little to know experience in dealing with these I sent him to the Internet and several of my contacts mortgage field.
Then just today my co-worker brings me this article, Make Your House Work, about reverse mortgages in the January-February 2008 AARP Bulletin. The article was very informative and sparked some great discussion between us, but left us both wondering about these instruments. Neither of us are familiar with the details and best uses for these, so that is the reason for this post.
I'd just like some feedback from anyone out there done these? How or could they be beneficial to my buyers or seller? What are your experiences with them? Are these becoming more popular? Just any personal experiences you may want to share!
Joslyn Dermer, ABR