I hope you can hang in as well Marc. Another viable option for seniors w/out equity in their home may actually be hiding in their life insurance policy. Many seniors are sitting on an asset they do not even know exists. You may be able to sell your life insurance policy for a large lump sum of money that can be used to maintain or increase your quality of life WHILE you are still living.
Jimmy
of MI
@
Oct 06, 2009 10:50:59 AM
Home equity
These sound like great ideas if you have equity. What happens if you are unemployed (meaning you can't modify your mortgage) and with no equity left, you can't go reverse mortgage. I'm stuck until the economy turns around, they start hiring teachers again and I build enough equity to get a reverse mortgage. I only hope I can hang in that long.
Jimmy of MI @ Oct 06, 2009 10:50:59 AM
Marc Dodell of CA @ Jul 04, 2009 23:31:36 PM
Back to blog