MONEY MANAGEMENT

AAG HECM Reverse Mortgage Is Still A Pig In A Poke

AAG HECM Reverse Mortgage

AAG HECM Reverse Mortgage Is Easy Upfront—Hell To Pay Later AAG doesn’t use the term reverse mortgage liberally anymore, however they still tout U.S. seniors can stay in their homes without any monthly loan payments. I ask you, as a senior with a paid off mortgage and a house full of equity, why would you want to “borrow the equity,” which is already YOUR money? It doesn’t make good cents! Why do I think a reverse mortgage is a pig in a poke? A pig in a poke is a thing that is bought without first being inspected, and thus of unknown authenticity or quality, and that is what a reverse mortgage is when you read between the lines. The idiom is attested in 1555 to:  “I wyll neuer bye the pyg in the poke. Thers many a foule pyg in a feyre cloke.” As you may know, a “poke” is…

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