People ask me that all the time: “Well, I thought, with the reverse mortgage, that they lose the house in the end”. No! Why would anybody do that? That just doesn’t make any sense. What’s funny is, I… The first reverse mortgage I did was for grandparents in 2008, and I’ve done over a thousand since, and even back then I said, after I really learned how it works, I was like: “Why do you hear all this negative stuff out there about this? I mean, it sounds like a really good program”, and, again, I’ve done over a thousand since.
Why would I ever put my own grandparents (I was their heir when my mom had already passed away) in a position to lose my inheritance, their property, over-borrowing some money? It just doesn’t make any sense, but people think that this is how it works.