Uno reverse card on the banks!
For all my friends turning 62 this year, we seniors have a financial secret weapon, the reverse mortgage! I just attended a seminar and learned about all the upsides of this amazing investment vehicle.
If you're like me, you've spent decades paying into your house, isn't it time to cash out? Don't you want some of that money back? It's like an Uno reverse card to play on the banks.
I'm not exactly clear on all the technical details, but the brochures were glossy and showed happy people my age smiling. I'd be happy to introduce you to my advisor. They can explain it all. Full disclosure, I'll get a $25 Applebee's Gift Card for introducing you.
Pish! Why worry about a measly 2% upfront fee? That's just like an ATM fee for accessing your cash.
Fallon, please tell me you didn't already sign up for this. Reverse Mortgages are incredibly shady almost to the point of predatory. It's like a wealth transfer that cuts your loved ones out in exchange for some short term pocket money.
You realize that you're owner-financing a loan to yourself with your life's largest purchase as the collateral, right? You're still responsible for all the taxes, insurance, etc. and you'll leave less to your heirs.
Do you have someone you trust who can look this over for you?
Yes, I trust my investment broker more than some internet crank like you. They warned me that most people don't understand savvy business strategies like this. It takes a bit more moxie to follow this than I can explain in one post. You should really meet with them at the Applebee's. That's how you know it's classy.