Early years in RV resort! Our motor home is parked next to our first Park Model When it begins to cool in the evenings and the geese fly in formation, my mind turns to Arizona. Yearning for the desert air and vibrant blue sky is compel me to fly away. I do it every year and will as long as I am allowed. Townhome near Tucson's Pantano Wash and bike trail. We started this way of life when we retired. First with a fifth-wheel trailer, later with a motor home, and finally in something permanent that evolved over the years. First, it was a park model in an RV Resort, then a townhouse close to walking trails, and finally into a home on a small golf course. Congress Hotel from window of near by hotel. Each time we moved, we upscaled and increased our monetary wealth. That is the way our mind works. It is as though we couldn't just have fun without working a lot. We painted and planted flowers and haunted thrift stores to find just the right furniture. We were always hav...
If I remember right this is one of Daves Ramesy's big No No's. He is my fall back guy in things I have no idea about. I would think by retirement most peoples homes would be paid off. To me selling the house and using the $$ if need be seems like a better idea
ReplyDeleteBig NO NO NO NO! I am with Debby who already commented. Many Seniors get into huge financial trouble with this one.
ReplyDeleteMakes me uncomfortable. I would never consider one.
ReplyDeleteDebbie, That was my memory too...mine comes from being 71 and living through having no money and having plenty. Spending what I make and not what I saved has always seemed like a good idea.
ReplyDeleteb
Arizona2012, You are so right. Even when we get "old" we can count on living for a lot longer than we think and it probably is going to cost a lot more than we can dream. Debt is not a good thing especially now.
ReplyDeleteb
Jannette, I cannot imagine a situation that I might consider the reverse mortgage but I am interested in seeing if there are things I don't know. I know for sure that it would be outside my comfort zone!
ReplyDeleteb
Read this first, then make your decision.
ReplyDeletehttp://money.cnn.com/2011/02/01/pf/expert/reverse_mortgage.moneymag/index.htm
Thank you for the heads up Shelly.
ReplyDeleteb
I read this article, survey questionnaire article very informative and interesting.Believe me i have never ever read this type of article, I refer your blog to many of my friends as well.
ReplyDeleteThanks for sharing knowledge..
Aw, this was an exceptionally good post. Finding the time and
ReplyDeleteactual effort to generate a good article? but what can I say?
I put things off a whole lot and don't seem to get nearly
anything done.