• Zipitydew@sh.itjust.works
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      9 months ago

      Yes this. I also know of multiple boomers who have done the reverse mortgage garbage to maintain their lifestyle.

      Kids didn’t even get the house when they died. The bank got it back.

      • andrewta@lemmy.world
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        9 months ago

        Never understood why anyone would agree to a reverse mortgage. Unless they really do not want their kids to have the house for some reason.

        • Riven@lemmy.dbzer0.com
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          9 months ago

          I can see it working if you have nobody in your life. For example, I have no kids and zero interest in my POS extended family that I’ve cut off amyways. If I could afford a house now I would legit consider a reverse mortgage when I’m older for extra income.