You are right I was not keen on them. Just google ‘reverse mortgage problems’ and you realize there may be issues with some providers. So get advice on the institution and have your lawyer read the docs. But I ran across a situation which I discussed with Kyle Green on this video.

Let’s say you are 65, you live in a – say $2 million house and would like to stay there. You have two struggling kids. You could take a mortgage for $1 million and pay $500,000 to each kid. They have a downpayment without interest payments and you make no payments on the mortgage either. They get the house anyway once you die… This way it’s earlier and no proverbial of skin of your nose.