A reverse mortgage is like an ejection seat: the absolute last resort.
did you read the context of why I started this post?...this isn't about a last resort...its about a way of tapping into an asset .....if you know of a better way of doing it I am all ears....bob
In all seriousness... I want to be helpful here in discussion. I am not a practicing attorney in any state, nor am I a practicing CFA.
What is the purpose or need for the asset funds to be liquidated? Monthly expenses or "fun money?"
If needed for monthly expenses, then downsizing might be a better option. Sell the dwelling, simplify to lower expense housing. Taxes can be the biggest driver of cost to keep a paid for dwelling.
