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REPORT ABUSIVE REPLY
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Message Subject
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Anyone know anything about REVERSE MORTGAGING? Is it a good plan for sr. citizens on fixed incomes?
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Poster Handle
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Post Content
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My father is 72 yrs old and was offered the plan. I told him to take it. It sounds real good. He doesn't have to pay any mortgage while he is alive and gets some pocket money from the appraisal on the house. Is this a legitimate plan?
I need all the advice I can get. I hope i didn't steer him wrong into taking the deal.
Quoting: Anonymous Coward 717575 These are most useful in end-of-life situations where the owner works closely with the person who would have to take over the payment. It does have it's place but 72? Waaaaaay early.
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