Nikorj wrote:tasman1 wrote:leeuna wrote: Wow, that's great. Ours will be paid in another 7 years. Bah! I have been seriously considering a reverse mortgage on our house. Have you heard of anyone who has done this and if so, do you know the downsides to this type of deal?
reverse mortgage ... good and bad
good and bad , more money to have better life , you do not pay but usually nothing will be left for your children once you are gone
ps ...if you paid at some stage extra in your mortgage and have a redraw facility that will be much better solution
Is it Aus dollar or American?, Well anyways it's good to know that you're more financial secure now (You've been complaining about it quite a lot )
Saving up for my pension myself, But that's a loooooong time in coming.
Australian dollars , think it is a bit over 10 000 U.S. dollar