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The Truth about Reverse Mortgages
“A reverse mortgage has its benefits, but it’s an expensive way to borrow money and not without risks.” — John Schaub, author, “Building Wealth One House at a Time” (2nd edition)
Like you, I’ve seen a lot of ads promoted by prominent TV personalities, such as Henry Winkler (“Happy Days”), Tom Selleck (“Blue Bloods”) and Alex Trebek (“Jeopardy!”), encouraging you to get a “reverse mortgage.”
They make it sound appealing to seniors. Live in your primary home for the rest of your life without making a monthly mortgage payment ever again!
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