• @[email protected]
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    fedilink
    89 months ago

    Yes this. I also know of multiple boomers who have done the reverse mortgage garbage to maintain their lifestyle.

    Kids didn’t even get the house when they died. The bank got it back.

    • @andrewta
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      39 months ago

      Never understood why anyone would agree to a reverse mortgage. Unless they really do not want their kids to have the house for some reason.

      • @[email protected]
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        fedilink
        49 months ago

        I can see it working if you have nobody in your life. For example, I have no kids and zero interest in my POS extended family that I’ve cut off amyways. If I could afford a house now I would legit consider a reverse mortgage when I’m older for extra income.