We drive on highways and bridges mostly without tolls, receive healthcare with little or no personal payment, access TV, Radio and internet programs without cost, and the poor have the highest standard of living in history.
What other examples can you think of? Just because we do not pay the value of the services we use does this mean there is no cost? Is there such a thing as truly Free products and services?
If not who ultimately pays the cost, and can this model be sustained in the near and distant future?
Join NO BS Money Guy Todd Strobel and Best Selling Financial Author Kim Butler as they investigate The True Cost of Free!
Some changes in the reverse mortgage market may make it easier for seniors to access their home equity, but they also protect lenders from declining values in the real estate market.
A reverse mortgage allows people age 62 or older to convert equity in their home to cash, in the form of a lump sum, a line of credit or monthly distributions. Borrowers using a reverse mortgage do not have to make monthly repayments. The loan is due, with interest, when the borrower dies, moves, sells the house or fails to pay property taxes or homeowner’s insurance. To qualify for a reverse mortgage, the property must be the borrower’s primary residence, and must either be held free and clear or be paid off with a portion of the proceeds from the reverse mortgage. The amount received depends on the property’s value and the age of the recipient.
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