To Seniors who have engaged in a Reverse

[Shirley KDD]

Mortgage with a bank (not with a broker) -? have you had any negative experience, especially at closing it out? Mine is new, but I am not totally comfortable with the possible outcome at payoff.

[Mark H]

One woman I know at age 84 did one. Lender required home improvements, with their contractor. Contractor charged $45,000.00, taken out of the reverse mortgage. The only work done was replacement of five 4'8''posts' on her front porch, and painted, and three wooden grab bars were installed at her three doors. That's a $44,000.00 rip off.