HOW LONG DO YOU AND YOUR SPOUSE PLAN TO REMAIN IN THE HOME?
Like many financial products, reverse mortgages have charges connected with them. Some of which must be paid upfront when the reverse mortgage is secured. This means, for example, that if you or your spouse are not likely to stay in your home for several years after obtaining a reverse mortgage, you should pay special attention to those costs and carefully consider them with your HUD-approved reverse mortgage counselor, as well as whether there may be other more cost-effective alternative strategies.