Reverse Mortgages: 4 Reasons Another Option May Be Better
If you plan on someday moving closer to family or to a more desirable climate to enjoy your golden years, taking out a reverse mortgage on your current home may not be a great option. A reverse mortgage loan becomes due once the borrower moves or passes away, so taking out a loan when you may be in need of cash only to have the loan due as soon as you go to move could be a serious issue.