Pros and Cons of Reverse Mortgages

Interest Rates on Reverse Mortgages

Here is some advice on what to consider before taking a reverse mortgage from the AARP

Do you really need a reverse mortgage?

Financially these are expensive so you must be very careful when you consider this option.

Can you afford a reverse mortgage?

These loans are expensive and the amount you owe grows larger every month. Also, due to high up-front costs, these loans can be especially costly if you sell and move just a few years after taking one out.

Can you afford to start using up your home equity now?