How is it possible that in the land of milk and honey, a record number of people who have hit retirement age cannot retire without facing disconnect notices and food shortages. Why are all the dreams that our seniors worked so hard to achieve not waiting for them as they draw close to the end of the line? Can anyone tell me why so many elderly Americans are trapped at home simply because they cannot afford gas money or the price of a movie ticket, much less a trip to somewhere they have always wanted to go? While this is very unfair on a massive scale, there is something even more unsettling happening in this country that really bakes my bunt cake.
It Should Be Their Choice
When offered the choice of taking a reverse mortgage on their home’s equity, their children are screaming NO and harping on reverse mortgage disadvantages, namely losing the equity in the home, which was their inheritance. I do not understand why these children even have a say in equity that they had no hand in building. Are the reverse mortgages pros and cons not bad enough without money hungry children holding their hands out and asking for more?
They Have Earned the Right
Our retirees have done enough. If they have an opportunity to get a reverse mortgage, which is a loan that they never have to pay back as long as they live in their own home, why should they not be allowed to take advantage of it? After all, it was not the children making those payments for thirty years; it was the seniors who are now expected to suffer because their children do not like the reverse mortgage disadvantages.
Elderly Does Not Equal Stupid
The reverse mortgages pros and cons are clearly spelled out to the retirees that are considering them. If a reverse mortgage means that the retirees of our nation do not have to go hungry two days a week to pay their gas bills, than so be it. The seniors of our country should be allowed to make their own educated decision about the reverse mortgage disadvantages. They did not get to be seniors by being stupid.