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Very OT:Reverse mortgage line of credit?

Ain't having aging parents fun?

I'll spare you all the details -- let's just say between my father and my FIL, I have NO need to watch soap operas! My current assignment is to find a source of money for my Dad, who is in his mid-70's, has not done the best financial planning, and is digging in his heels at most sensible options. :-(

Anyone here have experience with a reverse mortgage line of credit (aka a HECM line of credit)? Pros? Cons? If any of you have suggested this to aging parent(s), what objections did they come up with?

Thanks!!!!

Reply to
Kathy Applebaum
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Reply to
Sherry Starr

Do you remember any particulars? What kind of problems, other than having to sell the house to pay the reverse mortgage?

Thanks!

Reply to
Kathy Applebaum

Kathy, Here is just one source (AARP) of information about reverse mortgages. Other articles can be found through Google.

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Sandy >Anyone here have experience with a reverse mortgage line of credit (aka >a

Reply to
SandySmth

Thanks! I already printed it out first thing this morning. I know the value of being well armed when talking to my Dad. *big grin*

So far everything is pointing to this is the way he should go -- Tuesday we'll find out if he sees it the same way. No need for a paternity test; I know *exactly* where MY stubborn streak comes from! LOL :)

Reply to
Kathy Applebaum

Reply to
Pat in Virginia

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