2. Your Family Should Be Part of the Decision

If it's just your name on the deed, you may think your decision to take out a reverse mortgage doesn't affect anyone else. However, the choice can affect your whole family. After all, if you're like most people, the bulk of your assets are tied up in your home. Talk to your spouse and kids about how taking out a reverse mortgage might affect their inheritances. They may have feelings about the family home that you're not aware of, and you don't want to ambush them with a decision they're not part of.


monkeybusinessimages / Getty Images



This site offers information designed for educational purposes only. The information on this Website is not intended to be comprehensive, nor does it constitute advice or our recommendation in any way. We attempt to ensure that the content is current and accurate but we do not guarantee its currency and accuracy. You should carry out your own research and/or seek your own advice before acting or relying on any of the information on this Website.