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Ruby the Liberal

(26,219 posts)

4. Guessing it is "you can stay in hour house"

Reply to ablamj (Reply #2)

Sat Jun 13, 2015, 10:34 AM

Jun 2015

The house isn't free and clear - and with any Estate sale, the bank would be paid back the outstanding balance from the proceeds of the sale of the home (and presumably contents/estate). The heirs would receive any funds remaining.

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Highlight:

Reverse Mortgage Ads May Sidestep Potential Pitfalls [View all] TheNutcracker Jun 2015 OP

A DU'er asked about reverse mortages and this is currently circulating in the press TheNutcracker Jun 2015 #1

I've always found the commercials confusing too ablamj Jun 2015 #2

Guessing it is "you can stay in hour house" Ruby the Liberal Jun 2015 #4

So basically ablamj Jun 2015 #6

Some, probably Ruby the Liberal Jun 2015 #8

If they don't have any kids, it's not the worst thing. nt geek tragedy Jun 2015 #7

They aren't suitable for most people over 65 Ruby the Liberal Jun 2015 #3

What financial ad for anything doesn't gloss over the not so good aspects? hobbit709 Jun 2015 #5

These loans are a ripoff, but some people just don't have any other option. Hoyt Jun 2015 #9