Just saw a frail-looking Wayne Rogers (well, he is 80), do a commercial for reverse mortgage. I've seen them from Fred Dalton Thomas, Henry Winkler... and Rush Limbaugh has started doing commercials for them as well...
It's just that there's something not quite right about this.
The government gives you money for the equity in your home... and yet they say you still own your home? I'd say that's a euphemism.
Once the home-owner dies, the government has to take the home - so they can sell it and recoup the money they've given the home owner.
So there's no way the home can go to the oldster's children - unless they start paying on the loan the government has made!
Wayne Rogers is apparently famous as a financial whiz kid, and so I'd be inclined to trust his recommendation more than Thomas or Winkler...but it does seem odd to me...
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