Skeptical About Reverse Mortgages

You’ve seen the ads on TV. A much-loved and trusted actor and spokesperson says he was skeptical about reverse mortgages too until he got the facts. But what if there’s a good reason you were skeptical in the first place? Maybe you were getting a reading on your ‘too-good-to-be-true meter’ about reverse mortgages, or you were wondering why more of your friends aren’t getting them. On this Moneywise Live, Rob West and Steve Moore provide 4 reasons why you should be skeptical about reverse mortgages.

Next, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:

• Where can you find out more about loan forgiveness programs to help pay off student loans when you work at a non-profit organization?
• If you have $45,000 in a Fidelity managed account and $120,000 in cash, with real estate is expensive where you live, should you put the cash toward a mortgage or keep funding the managed fund?
• Should you tithe on mutual funds when you take distributions out?
• If you just sold your rental property, how can you claim $27,000 of pre-sale repairs on your income tax and get the most benefit out of it?

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