will never exceed the value of the house.
“I’m not a big fan of reverse mortgages,” says Lee, voicing an opinion shared by other financial advisors. “You generally can borrow only a portion of the value of the house, perhaps 40%, yet you’re trying up a major asset.” Nevertheless, this may be an option worth pursuing if you’re determined to remain in your house and you don’t want to be a tenant paying rent to someone else, even your own child.
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