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| Experience with Reversable morgages?
Posted: 9/9/2007 8:20:58 AM | Being that this post asks for responses from a particular group of people, those experiencing reverse mortgages. I'd say this is not the right place.
Working on retirement plans is a valid question.
You got pentions
Reverse Mortgages
Retirement Homes
Families
Bankruptcy
Whatever the solution to one's personal retirement is, asking for lists of stories (experiences) about a topic doesn't seem to promote much productive discussion.
The best place to find financial products is from the banking, insurance and financial regulating bodies. All products are supposed to be approved by them and it's easier to compare all products in one place.
The alternative is call the financial instutions and get the information to compare Because no one here can give you accurate information and it seems another excuse to describe your possessions and lifestyle again.
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| good question
Posted: 9/9/2007 8:38:29 AM | Moraima,
I also have zero family to think of leaving anything to when I'm gone. However my thought is to leaving everything behind me and take nothing to the grave (I don't even plan to attend my own funeral) ;)
Anyway for me personally I would not sign away your lifetime assets to some mortgage company that doesn't give a s*** about you or what happens to you. I feel that would be a major mistake that you would be locked into the rest of your life and regret.
So, why not downsize then? What are you trying to hang on to anyway? You want to cling to your possessions but they'll all be naught when you're gone anyway. So your plan is to put yourself in DEBT with everything you own to try and hang on to them? At the least I'd like to own what I have, as little as we are able to have these days anyway. Perhaps if at the end all I have is my will and my freedom then that will be quite enough.
This is a good forum to discuss such things.
The banking industry is one to avoid, as they will rob you blind and then bury you with the ashes. | |
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