Weigh pros, cons before taking a reverse mortgage

Q. I am considering taking a reverse mortgage on my home and would appreciate knowing about the pitfalls. I am not too concerned about my heirs. Can you help?

A. Increasing numbers of homeowners are finding, particularly in their later years of retirement, that they lack cash. Their largest asset is usually the home in which they live. Unlike other investments, such as bank accounts, bonds or stocks, a home does not provide any income to the owner unless he or she decides to rent out a room or two.

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