Ask Paula: Is the bank trying to scam my parents…?
Afford Anything
00:00
Is This a Scam or a Good Idea?
Reverse mortgages are very hard to understand, and because of that, there're a lot of ways for companies to take advantage of people. Your parents will still need to produce some form of income even if it's freelancing or consulting in their industry. Sell the house, down size, put the funds into a smart, conservative investment live somewhere that's cheaper.
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