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11/17/2008

Fort Worth, TX – Most of us have seen the celebrity ads on television touting the virtues of reverse mortgages for homeowners who are at least 62, have significant equity in a home, and have paid up or almost paid up their mortgages. Reverse mortgages may offer certain advantages, but older homeowners need to approach them with care. Such mortgages can be complicated, with a variety of rates and terms. They may also come with a number of different fees. There may be less expensive ways of borrowing than using a reverse mortgage. Check with the BBB for a reliability report on any reverse-mortgage broker.