Actually Jim, I think the things I am gonna mention are what are called
reverse mortgages.

My dad (going on 68) is contemplating taking both of his residences and
reverse mortgaging them. Apparently the bank gives him money ahead of time
for the value of the house (a little less than market value) and upon his
death, the property is immediately transferred to the mortgage company. I
may be a little bit off on the explanation but it is kinda my understanding
of how it works. I guess this way he gets the opportunity to enjoy the
money/value of the residences now, while he is still alive, as opposed to
leaving it to my sister and I.


--
Ryan KC8PMX

"Give a person a fish and you feed them for a day; teach that
person to use The Internet and they won't bother you for weeks."

60's and up getting those mortgages. Go figure.

Actually, now that I think about it, there is a certain twisted logic to
it. In
general, people are living longer now, so the chances of someone actually
paying off the mortgage is better than before. Conversely, if the person
dies,
the mortgage company gets their money quickly, from the estate.

On top of all this, such policies insure that the mortgage companies don't
have
to worry about claims of age discrimination.

73 de Jim, N2EY