Dear friends, can we talk about Reverse Mortgages and how awful they are?

[kimbutgar]

7. My neighbor took out a reverse mortgage after his wife died

When he passed on his step daughters found out the house that were left to them from their mother that she acquired during her 1st marriage had this reverse mortgage. The reverse mortgage company wouldn’t let the daughters refinance the house. The step father had only taken $100,000 out and when the reverse mortgage company sold the home it went for 1.5 million. I always thought the daughters should have fought this more but they were overwhelmed.

These are evil predatory things and every time I see Tom Selleck pushing them I curse him.