A better deal if the kids can make the payments in addition to their own mortgage. Many cannot, or cannot be counted on to do so. BillR
-----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Mitch Haley Sent: Friday, March 07, 2008 2:06 PM To: Mercedes Discussion List Subject: Re: [MBZ] OT: REVERSE MORTGAGE LarryT wrote: > I know you used that term to make a point but I've always had a problem with > kids thinking they have a right to what the parents worked a lifetime to > accumulate - or parents thinking it's expected. As an alternate to a RM, you could do a land contract with the kids in effect making them the reverse mortgage lender. You get lifetime tenancy, they get to make a monthly payment to you and keep up the property taxes. They build equity as time goes by, and if they outlive you they inherit the remaining interest from your estate. _______________________________________ http://www.okiebenz.com For new parts see official list sponsor: http://www.buymbparts.com/ For used parts email [EMAIL PROTECTED] To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com _______________________________________ http://www.okiebenz.com For new parts see official list sponsor: http://www.buymbparts.com/ For used parts email [EMAIL PROTECTED] To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
