tough times - Help
I have fallen on tough times and Ive decided to sell my two properties and retreat to my 5th wheel camper until I can get my life straight again. I chose a campground in a nice area and found a f...
Forum Discussion
barchetta1 wrote:schlep1967 wrote:
My advice.... look into a reverse mortgage and stay in your home. Sell the other property for additional income.
Not enough equity and Im going out of debt not into further debt. I would recommend this to no one. Anyone believing this is good advice should listen/read Dave Ramsey. Horrible horrible advice and the norm for americans.
I agree it is not for everyone. But in some cases where there is no money coming in due to not planning for retirement, it is a viable option. It doesn't put you into any debt. They pay you a monthly mortgage payment. Of course you do need to own the home outright.
