Search results for "reverse mortgage"

Reverse mortgages make it possible for house-rich but cash-poor elders to use their home equity to pay for in-home care services while they remain in the home. They may use the money for anything they need.

My 78-year-old mother wanted to gift her house to me, but I turned her down for Medicaid and tax reasons. She is maxed out on a reverse mortgage but there is untapped equity of around $50,000. She doesn't want...