Does anyone know anything about Reverse Mortgages?

[AmberLee]

My parents are looking into this, and it feels like they aren't doing their homework. I'm rather concerned, but it just could be that I don't know enough about them... Has anyone here, or a close friend/realative, gotten a reverse mortgage?

Would this be something you'd recommend? What questions do you wish you'd asked before you did this?

[Lady's Human]

They can be good for extra income, but you have to be VERY careful when doing your planning, because at the end of it the bank owns the home. If they are in their 70's it's probably not a bad idea if they are strapped for cash. Any younger, and given modern life expectancy they could be in for a shock at the end of it.