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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: shades who wrote (46425)2/14/2006 9:08:00 AM
From: Mike da bear  Read Replies (2) of 116555
 
Interesting... "A reverse mortgage does not have to be repaid until the borrower moves out of the home permanently, and the repayment amount cannot exceed the value of the home."

So does this mean take out a reverse mortage now on full current apprasial, then when move out in 10yrs and the house is worth only 50% of what it is today you only have to pay back 50%. Sounds like a nice way of locking in gains on inflated/overpriced RE. Of course this only works for people over 62... the wealthiest demographic group already.
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