09-11-2011, 08:24 PM
- Join Date
- May 2008
- Pierce County
Reverse mortgages shouldn't be illegal but they do have a lot of pitfalls, especially in a down market. Not something I would recommend to anyone unless they have over 75% equity in their house. That way if something happens and they are forced to sell the house, they should still be able to get out from underneath one relatively unscathed.
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