I have concern about reverse mortgages too. Especially with...

I have concern about reverse mortgages too. Especially with interest rates rising. I had one client who spoke to me recently about a reverse mortgage - first question I asked was "Do you know what happens to the property and loan in the event of your death?"

The answer: They had no idea whether the agreement would give the bank the option to just take possession and sell the house or whether the bank would give the beneficiaries (their children) the chance to refinance or sell in an orderly fashion.