What's becoming more in use for us poverty-stricken, down & out, hard scrabble, & hard working, waterfront property owners is the relatively new financial contraption called the reverse mortgage. A federal banking rule requires you to be 62 before applying, and supposedly a reverse mortgage will continue to dish out the property tax, a monthly allowance, 100 gallons-o-gas, one 30-pak of Bud, two pizzarama pizzas, and two cartons of Camel non-filters/week.
Seems like a terrific plan......sign on and then cruise the Big Lake in style til you are 102.....then down size to a kayak & granola for your good health.....what's not to like?
40 years on the mortgage company's nickel! How much will my property taxes be in 2048?
