Having looked into it myself, if you should be able to do that, consult the advice of a good attorney with expertise in both estate law and real estate law, who has helped with reverse mortgages and can advise you on the ins and outs of choosing a lender, estate planning, etc. One of the issues for me: if I were to do my RM at 62 and die when there is still a positive balance after the sale of the property, I would like to see that money go somewhere other than to the bank.
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Date: 2013-11-20 06:38 am (UTC)Having looked into it myself, if you should be able to do that, consult the advice of a good attorney with expertise in both estate law and real estate law, who has helped with reverse mortgages and can advise you on the ins and outs of choosing a lender, estate planning, etc. One of the issues for me: if I were to do my RM at 62 and die when there is still a positive balance after the sale of the property, I would like to see that money go somewhere other than to the bank.