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You also have no monthly payments to make. Granted, amount you owe continues to grow larger over time but you also have more cash on hand to enhance quality of your current lifestyle. Look at it this way, you will now have all money you need (and want). After all, it’s your money. True, you won’t have full selling price of your home to leave your loved ones but if they’re financially sound in their own right, do they really need a substantial inheritance?
Furthermore with new found cash, you could re-invest into other income-generating streams such as stock and option trading. But that would be another story with its own pros and cons.
It all comes down to what’s important to you, what your current financial needs are and if leaving money to heirs is something you feel you need or want to do.
To take a look at basics of a reverse mortgage tips and info, get more details from http://www.wealthmountains.com/finance/reverse-mortgage-tips-info.htm
This article is part of the resources, guides and tools dedicated to your financial successes found on Keith Choy's WealthMountains.com Site. Visit his site at http://www.wealthmountains.com/finance