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what state are you in?

Posted by Pam on Tue, May 10 2022 at 12:19 AM CDT:

In Reply to: Anyone familiar with a reverse mortgage? DH posted by wants to do this and the idea scares me. sm on Mon, May 09 2022 at 07:24 PM CDT:

My BIL is an estate attorney and knows more about this than I can even imagine. I am not suggesting he help you, just that I know that a good lawyer can be helpful.

Reverse Mortgage started with President Ronald Regan and he believed he was helping. It is a good option for some and not so much for others. Your question about one dead spouse and the other in a nursing home is VERY valid.

I can say that a friend of mine didn't have any cash but had his house and he was set up so his last couple of years were comfortable. And another friend also did this and when he passed his wife was okay because they set it up for both of them. You MUST have someone professional give you advice, not just the bank offering the mortgage.

If you are in a state that my BIL might know someone then maybe I can offer a referral for someone to talk to you? I have know Talon for many years and he can at least tell you that I am honest and if I can send you to someone it would be a good faith trust.

FYI - Old age is not fun. I wake up some mornings and I am just sure someone counted wrong!

PS = Hi to Talon --- remember when Tigger was a cute little one climbing a tree while we a;; ate dinner and had some cocktails? And thank you SO much for that phone call when DH was in Colorado and needed support.

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