Too many Non-Professionals in the mortgage arena are always saying negative things about the Reverse Mortgage. Most are not true and come from people who have no idea what they are talking about. Many hear statements from friends and co-workers and think they are true. What you need to do is contact a Professional". As a Licensed Mortgage Banker, I as well as other Licensed Professionals will give you the true answers about this loan. Believe me when I tell you, I think you will be very happy with the true "scoop" on this loan.
Some things to consider:
1) No one comes in the middle of the night and steals your home.
2) Yes your heirs will have your estate to fight over when you die. (You could end up with more money after you do a reverse mortgage)
3) IT is not considered income and therefore will not affect your social security benefits.
4) How about buying a home with a Reverse Mortgage-Find out how.
To get all the REAL answers. Contact me or you Bank or Mortgage Pro.
Licensed Mortgage Banker