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.
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.
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.
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.