Reverse mortgages

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Real estate attorney here. I have actually closed hundreds of these transactions and I think they are a good deal. You should do the HUD counseling with her. You will see that it is not a scam or anyone trying to take advantage of her.

Interesting. I am a nursing home social worker and completely disagree.

Pp Real estate attorney here. Why?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Real estate attorney here. I have actually closed hundreds of these transactions and I think they are a good deal. You should do the HUD counseling with her. You will see that it is not a scam or anyone trying to take advantage of her.

Interesting. I am a nursing home social worker and completely disagree.

May I ask why? We just did this for my grandmother about 2 years ago. We worked with a good friend and the fees were not high.

She lives on less than $ 500 a month in social security, and for years I was covering the rest of her expenses. I put myself into a financial mess and then lost my job. It was really the only option to keep her in her home. Her house wasn't worth much (compared to DC standards) but it's allowed her to fix up some things in her home, and pay her bills.

Some people do not have tons of money in a pension or retirement plan. I'd much rather my grandmother spend the equity in HER home now, then worry about leaving it to family when she is gone.