Using a Reverse Mortgage to Pay Medical Bills

A reverse mortgage is a loan for senior citizens who own a high level of equity in a home. But is it worth taking out a reverse mortgage in order to pay for health care? In this Real Estate Minute, I answer a question from someone looking to obtain a reverse mortgage on his home as a way of paying for health care costs. But there are other options when it comes to leveraging home equity, and reverse mortgages come with high costs unto themselves. Watch this video for details on what types of health issues could justify taking out a reverse mortgage and when it might be best to just sell your home. If you haven’t already, be sure subscribe to my YouTube channel for the latest real estate tips and news: http://www.youtube.com/subscription_center?add_user=expertrealestatetips Looking for more of my real estate and personal finance tips? Read my blog: http://thinkglink.com See my tweets: http://www.twitter.com/glink Follow me on Facebook: http://www.facebook.com/ilyceglink