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13 Reverse-Mortgage Misunderstandings That Could Cost You [The Motley Fool]

Solidion Technology, Inc. (STI) 
Last solidion technology, inc. earnings: 10/17 06:00 am Check Earnings Report
Company Research Source: The Motley Fool
Getting regular income in retirement based on the value of your home can seem like a terrific financial solution, but it could leave you on shaky ground if you haven't taken into account some of these issues. In surveys, many borrowers say reverse mortgages have improved their lives and provided money they needed for retirement. -- Charles Duhigg  A reverse mortgage can indeed be a big boon in retirement, providing needed income and improving your financial security. But reverse mortgages are not without some drawbacks and dangers. Learn more about them to see if getting one is a smart move for you, and start with the 13 misunderstandings below. Image source: Getty Images. Reverse mortgages 101 A reverse mortgage is essentially a loan, with the amount borrowed not having to be repaid until you die, sell your home, or stop living in it (perhaps because you moved to a nursing home or died). At that time, the home can be sold to cover the debt -- or your heirs can Show less Read more
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