subject: Reverse Mortgages – What Are The Pros And Cons [print this page] This is, why the whole product has been invented. These seniors are called cash poor but equity rich. They are mostly seniors, with the pensions as the only incomes. And it is impossible to increase the amount of the pensions, so the only source of the extra cash is to turn a part of the home equity into cash money and to use it to pay the sudden cost increases. A senior has to judge by himself, whether the reverse mortgage loan is a product, which will fit to him. It is a little bit costly, but offers also good benefits. A meeting with the reverse mortgage counselor can open other opportunities.
