On Tue, 19 Jan 2016 13:57:23 -0600, philo wrote:

On 1/19/2016 1:50 PM, Frank wrote:



Although I personally have nothing against Winkler...as a Milwaukeean I
was kind of miffed that they put up a statue of him downtown.

He is nothing but an actor and I would have preferred they put a statue
up of someone from Milwaukee who actually did good. Out of a city of a
million or so I bet there are two or three good people here.

I have no problem with old actors/politicians trying to make a buck but
have been very leery about reverse mortgages.

They say they are insured but the insurance is to the issuer not the
borrower.

My brother looked into it and you also have to pay a big property
assessment fee and maybe others. Dave Ramsey says you are better off
down-sizing if you can no longer afford to live in your house.



I have no doubt that on the average, the adds are heavily in favor of
the reverse mortgager rather than the home owner but I can understand
why someone would want to stay in their own home and not worry about
their heirs getting a better return.


This looks like a vehicle for someone with no heirs and they just want
to live out their life in their home.
I guess it is a way to screw your kids if you are mad at them tho.