Reverse Mortgages are expensive

I hear the costs associated with a Reverse Mortgage are high - they can be around 10,000? Is that right?

Thats a good thought. I wonder what they do charge, is it interest or a lump sum?

I guess it depends on how much you borrow I know you have apraisal fee and closing cost like all loans.

Most of the charges can be added onto the charges of the loan. I don't think the out of pocket fee is actually that much.

No I think the federal government set this up as a way for senior citizens to live comfortably in their homes for their life time using the equity without having to worry about monthly payments.