“What goes up must come down,” so goes the saying. And, to that end, what goes forward must also go in reverse. Turns out the same also applies to mortgages, sort of. Except, instead of being a direct inverse from a “forward” mortgage, reverse mortgages are kind of their own special thing.
If you don’t read beyond this opening section, just remember that the big takeaway here is going to be that some reverse mortgages are good, some are bad and you need to always, always read the paperwork before signing on the dotted line. This goes doubly if your parents are considering (continue reading….)