It is a sellers market now so sell it and downsize.

Depends on location. Where I'm at its a buyers market.

Legal but borders on being a scam.

Sell the house and buy a camper trailer and rent a lot in an RV park on the lake.

Our dad considered it. Home was paid for. I looked at the numbers. For him, best option was to hold on until he could sell and downsize. Not that was much left where he passed, but was better deal for him.

The way it looks to me....
With a reverse mortgage you eventually end up living in a tent.

So if I had enough equity to reverse mortgage, I would refinance to lower payment, or sell and downsize into a tent or refinance and rent my home while I moved to a tent.

Seems to reverse finance would be my last option.

I think reverse mortgage may be an option for older neighborhoods that have escalated in value 10 times original value. As if you gave 40,000 for a property that is now valued at a 500.000. Like in older Dallas or new England states.

But regular a Joe like me, living in a regular, house not a good option.

Surely appreciate you guys, always have since I became a TFF'er way back when!!! Anyway, Jimbo has the right idea, for me!!! not the Sweetie Pie. Something about grandkids, friends, yada yada yada.....

Don't believe its gonna happen out here in Forney after all these replies!!! But the thought...the mere thought of selling and MOVING!!! O WOW!!! WE'LL see what the morrow may bring....

Let me tell you my best friend did this even though I tried to talk him out of it. He had a house worth about 60K. He had to pay for a appraisal, he had to spend 14K putting on a new roof, he had to pay another $2,500 in fees and when he got done he got about 25K. In the years since he has already spent the 25K on taxes and insurance because you are still responsible for both of those things. Also any repairs that have to be done ie: hot water heater, A/C, plumbing and such you are also responsible for. So if anyone thinks this is a great/good deal you better check again.