By Stacy Johnson
Reverse mortgages are a popular topic these days, as evidenced by three questions I’ve received in just the last three weeks:
Is a reverse mortgage something to look at? We have a 30 year mortgage on our house for $70,000 and thought it might be easier to let the house make the payments for us. The house is worth somewhere around $225,000. – Roger
Can you give me a real, down-to-earth, honest-to-goodness explanation to the reverse mortgage currently being touted to seniors 62 and older. It almost seems like it’s too good to be true, and you know what they say about those kinds of deals! – Larry
What is your thought on reverse mortgages. I own my home, recently widowed and owe approximately $25,000. – Mary
OK, Roger, Larry and Mary, let’s look under the hood of this much publicized way to add some gold to your golden years.
What’s a reverse mor…