Originally Posted by
BellaBoo
I think reverse mortgage you own your home but can't sell it unless you pay back the payments plus a lot more. It's big financial decision. The house goes to the lender if you have to move due to health or older age. I would get a lawyer that specializes in that before taking the word of a lender. I would borrow on a low interest credit card before taking out an equity loan.
There are some unsavory Reverse Mortgages out there. Be wary of the fees and "hidden" charges. Some are outrageous. Home Equity seems a better way to go from what I have seen.