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Reverse mortgages now almost a must?

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Old April 10th 16, 10:08 PM posted to misc.invest.financial-plan
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Default Reverse mortgages now almost a must?

Marke****ch has an article about new rules making reverse mortgages more attractive: "The new math on reverse mortgages" http://www.marke****ch.com/story/the...ges-2016-04-10 . If so, I wonder at what age and conditions it almost becomes a must?

They have some boring coverage of how abuse (of the nature no reader of this newsgroup would attempt) is being reduced by new rules. But they say using it as a line of credit seems almost a must, even if you don't seem to need it at the time.

The value of it rises and the feds may insure against drops in value of your house. You can use it's tax free proceeds to avoid tapping into taxable IRA withdrawals, with all it's side effects of raising medicare premiums, etc. You can avoid locking in capital losses on stocks, and have income to wait for return of a bull market.

So I am curious whether someone who has no specific need for such a line of credit should get one, and when. It now almost sounds like a gov't giveaway program that leaves you behind if you don't join, but maybe there are some pitfalls for even the most modest involvement?


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