Reverse mortgage not just for owners of upscale homes

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DEAR BOB: My father, age 75, is considering a reverse mortgage on his home. However, your letters always seem to be about $400,000 homes. His is worth only about $130,000. He will not be getting a lot of money. Is it worth it? What if he lives to be 85 or 95 years old? – Karen Z. DEAR KAREN: Your father's situation is ideal for an FHA reverse mortgage if he needs additional income. He can use the funds for added monthly lifetime income no matter how long he lives. Purchase Bob Bruss reports online. Or he can use his reverse mortgage for lump sums for big expenses, such as a new roof or a new car. Perhaps he just wants a credit line for emergencies. Any combination of these three choices is available. Senior citizens with expensive homes should also consider the higher-limit Fannie Mae and Financial Freedom Plan reverse mortgages. To find a reputable reverse mortgage lender in your father's vicinity, go online to More details are in my special repor...