On Thursday, September 26, 2019 at 7:57:35 AM UTC-4, dpb wrote:
On 9/26/2019 4:41 AM, micky wrote:
In alt.home.repair, on Wed, 25 Sep 2019 15:58:13 -0500, dpb
wrote:
...

Otherwise, almost certainly
a bad idea and as noted, virtually always one could come out better by
simply selling the property straight out.

Again, then you have no place to live.

You buy within your means or rent--with the advantage that if in the
future you need assisted living or your plans change you have complete
flexibility to make those decisions later.

I don't know what the average case is, but my mother could never live
anywhere more cheaply than in her house. Her annual property taxes are
$846. How many months of rent would that pay for anywhere?

She took out a reverse-mortgage a few years ago to get some much-needed
repairs done on her house. I don't expect to realize a single cent on
her estate.

Cindy Hamilton

Cindy Hamilton