Customer Reviews

The Reverse Mortgage Advantage: The Tax-Free, House Rich Way to Retire Wealthy!

5 star:		(5)
4 star:		(1)
3 star:		(1)
2 star:		(0)
1 star:		(0)

 

 

This book helped my husband and me decide to get a reverse mortgage. We had been arguing back and forth -- I said yes, he said no. But the book discusses the pros and cons very clearly. We both fog up when it comes to reading about money -- but this was clear. And fun to read, too, not like most books about money. It helped change his mind -- and helped our sons and daughter see that this is a good idea for us.

I'm 65, he's 72. We're both retired and, as the book says, house-rich and cash poor. A reverse mortgage will help us pay some outstanding bills and maybe have some outstanding fun, like some of the people profiled.

Getting Older in Boulder

I just bought this book because my husband and I are thinking of using a reverse mortgage. Everything was clear, concise and well layed out. We didn't need a lot of books to understand the subject. This one gave us everything.

This is a great little book -- it not only offers solid information, but it does so by way of easy-to-understand illustrations recounted with good humor. I gave the book to my parents, who are considering a reverse mortgage, and they said it helped them to understand their options far better than the consultant to whom they'd been talking and the seminar through which they'd attempted to stay awake.

I didn't know anything about reverse mortgages so I bought this book. I am thrilled with it! The author explains everything in such a simple manner that you can easily understand everything you need to know to make an informed decision. You will not be disappointed in his book!

Reverse mortgage is a loan made to a home owner-age 62 or older- against the equity in the home. It may be suitable for those who have much equity in their own home, want to live in the home until their death, and need cash to do this. But, they are also costly mortgages. This book is recommended for anyone considering this product either for one's self of for a parent. With lots of information and definitions, it describes what is out there and where to get more information. The book features the Department of Housing and Urban Development (HUD) Home Equity Conversion Mortgage (HECM) which is insured by the federal government, but also describes several "proprietary" products. The book goes well beyond its title and provides useful knowledge and suggestions for any senior who must manage limited resources. The author has considerable knowledge but tends to jump from topic to topic, often returning to points he made earlier. As a result, it is hard to find something in the book without reading the whole book. There are also occasional, though minor, mistakes. For example, 0.5 per cent is 50 "basis points" and not 5. You will be better prepared to consider and evaluate reverse mortgages after reading this book.

I read Reverse Mortgages For Dummies a few months ago and, as an avid comparison shopper, wanted to make sure I had gotten the best book out there. When I picked up The Reverse Mortgage Advantage I had a sense of deja vu ... this is so much like the dummies book I thought it must have been written by the same author. It's not that this isn't a good book ... it's just that I already read it in the form of the dummies book. For a few bucks less and a more originality, I'll stick with the dummies version.

This book tells all you need to know about reverse mortgages, and does it with an engaging style and considerable humor. If you are considering a reverse mortgage, this is the book to read, for it is all here.