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Speaker's Corner / Aging/Infirm Parents


Subject:  Re: Reverse Mortgage & Grandparents Date:  4/18/2005  5:01 PM
Author:  LucyM Number:  135 of 150


I've looked into Reverse Mortgages for myself and found them to be prohibitively expensive for what I'd receive each month. In my case, based on a house value of $450,000. I'd receive less than $200. per month and the cost would be between $13,000. and $17,000. which could be folded into the loan so that there would be no up front costs at all. Age is a factor, as well.

It doesn't cost anything to get info, and you can usually get this easily via telephone, so I'd call a coupl