The due date on a Reverse Mortgage is when you turn 150.  If you live too long, they send somebody by with a pillow, except they forgot with supercentenarian Jeanne Calment.

Jeanne Calment was born in 1875 and died in 1997 at 122 years old.  She smoked for over a hundred years, and outlived her attorney who signed a deal to buy her apartment by paying her a monthly sum until her death.  Calment was 90 at the time and her attorney 47.  When he passed away thirty years later, his wife had to carry on making the payments, which amounted to more than double the apartment’s value.

A Reverse Mortgage is not for everybody.  There are disadvantages that you and your family need to be aware of; however, there can be benefits too.  A Reverse Mortgage may help you to be better able to afford medicine, food, and basic expenses—depending on your situation, a Reverse Mortgage may help you live longer and more comfortably.  Seek competent financial counseling when considering a Reverse Mortgage.