If your parents are retired or nearing retirement and concerned about their finances, they might float the idea of getting a reverse mortgage past you.
After all, in that commercial, that nice man from Law & Order says that it’s a great way to get supplemental income in retirement.
Unfortunately, there is a great deal that the commercial leaves out.
And these issues are something that the reverse mortgage holder’s family—that is, you—will likely have to deal with.
After all, your parents aren’t getting any younger.
Here is the breakdown of what those in the Sandwich Generation need to know about reverse mortgage disadvantages—before Mom and Dad sign on the dotted line: