What can I do with a Reverse Mortgage?

I found these statistics on the top ten reasons seniors get a reverse mortgage according to AARP.

1. Pay off mortgage (20%)

2. Home repairs/improvements (18%)

3. Improve quality of life (14%)

4. Everyday expenses (10%)

5. Emergencies/unexpected (9%)

6. Pay off non-mortgage debts (7%)

7. Health or disability (5%)

8. Property taxes/insurance (5%)

9. Financial help to family (2%)

10. Investments, annuities, or long-term care insurance (1%)
Household chores (1%) (tie)

Reverse Mortgage Man
Moneywise
www.moneywise.net
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