Research carefully before choosing reverse mortgage

By Jim Miller, Special to the Star-Advertiser

Dear Savvy Senior: What can you tell me about reverse mortgages? The coronavirus damage to my retirement account has me considering it, but I want to make sure I know what I’m getting into. — Cash-Strapped Senior

Dear Cash-Strapped: Massive job losses, a volatile stock market and low interest rates caused by the coronavirus pandemic has caused many cash-strapped retirees to consider a reverse mortgage. But there’s a lot to consider to be sure it’s a good option for you now.

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