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reverse mortgages arent all they are cracked up to be. dont know...

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bruceyg

35,295 Posts.

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25/03/22

10:57

Post #: 60418739
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Originally posted by craig57 ↑

Why would anyone with a house worth over a $1,000,000.00 or assets over $1,000,000.00 want a pension. Anyone can get a reverse mortgage against their home. I think people only want the Government to pay for their lifestyle.
The Aged Pension was meant to be for people in need and should be increased for people in need.
I am 66 and hope I will not need Government handouts.

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reverse mortgages arent all they are cracked up to be. dont know if you've looked at it but the interest rate is very high. basically they are running a bet that you will die before they pay the lot out.
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