ww4321 posts, http://www.ezinearticles.com/?Before-You-Say-No--See-7-Reasons-Why-You-Should-Roll-Your-Own-Reverse-Mortgage&id=61989 I just did a quick calculation for someone taking a $500,000 mortgage and buying a $500,000 annuity for a home in Houston, TX.e-loan $500,000 mortgage, 30-years fixed at 5.75% = $2,918/monthly paymentVanguard life annuity for a 65-year-old male, $500,000 premium = $3,257/month benefit.Increased cashflow = $3,257 - $2,918 = $339/month = $4068/yr.In Houston, a taxpayer over age 65 can defer his property taxes indefinitely with out penalty (though he pays 8% per annum interest on the unpaid balance, which is recouped when the home is sold or the owner dies.)http://www.chron.com/cs/CDA/ssistory.mpl/business/lipman/2983601On a $500,000 home, property taxes would be $12,000 to $15,000 per year.I'd do a tax deferral before I'd do a reverse mortgage, or a "roll-your-own" reverse mortgage.intercst
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