J.W. in San Diego with a free & clear home valued at $2 million, took out a HECM of $240,000. He did this to create a publishing business with his son. If he had passed away the next day, he would have left his son $1.7 million instead of $2 M. He would be happy with that. As is, he greatly enhanced his legacy. He also created a line-of-credit for future protection.
This is the place to share. Share news, updates and opinions. The reverse is the most misunderstood item in the lending and financial home ownership arena; we need more exchange of ideas.
This area is for questions and, I hope; answers. Please keep the dialogue going in the name of education, and that goes both ways. Please see that I have added two categories from The Educated Retirement show for Nostalgia and Wisdom