Cash-hungry retirees look to reverse mortgages

Despite benefits, disadvantages exist

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Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, March 12, 2006. If you (or someone you know) admit to being at least 62 and own your principal residence house or condominium, and if you can use more tax-free cash: read on. However, if you are just plain snoopy, unless you fit the aforementioned profile, this article isn't for you. Now that I have aroused your curiosity, you probably wonder what I am going to reveal. Purchase Bob Bruss reports online. As thousands of baby boomers decide to retire every day, many suddenly realize they don't have enough income to provide for a comfortable lifestyle. Meager Social Security income certainly isn't the answer. But there is an easy solution. It's a reverse mortgage, which can provide lump sums of cash for any purpose (such as a new roof, new car, trip around the world, bill payoffs, or something frivolous), a credit line for emergencies or investments (except in Tex...