"Anyone who’s ever watched any late night television has seen those commercials for reverse mortgage. They are always touted by older celebrities claiming how safe these things are. For those who actually believe that there’s little risk to a reverse mortgage, here’s a cautionary tale from our faithful longtime correspondent in Tucson- M.R."


atlburning at 23:17 2009-09-11 said:
She no longer lived in the house as her primary residence. She defaulted on the terms of the mortgage. Permalink
mmiskiel at 19:43 2009-09-12 said:
This had nothing to do because it was a reverse mortgage.

She spent wild which was her right, and all the while did not have to make a monthly payment because it was a reverse mortgage. Also because it's a non-recourse loan she will not have to pay a thing.

I think she got the better end of the deal! Permalink

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