Where are we headed?

[zelmo]

Jim, I don’t get the impression that you would ever need a reverse mortgage.

I never looked at the details. What happens if the housing market collapses? Is the lender forced to just sit tight and watch their collateral go down the tubes?

Sounds like another bailout looming.

[TampaJim]

Jim, I don’t get the impression that you would ever need a reverse mortgage.
I never looked at the details. What happens if the housing market collapses? Is the lender forced to just sit tight and watch their collateral go down the tubes?
Sounds like another bailout looming.

We don't, odds are 99% we won't. However, we have no intention of leaving anything for our daughter.
She's heading to law school, wants to be like momma. If she's not self-supporting, shame isn't ours.
Our viewpoint, we earned every penny. And we're gonna attempt our best to slide into home near zero.
Why not do a reverse? Go on yet another cruise, flight, adventure. And, yes, they get to sit tight on it.
Just like an annuity, they bet, you win, breakeven or lose, based on your actual lifespans, nothing more.