Just because you are over 65 and you have equity in your home, is a reverse mortgage better than a normal mortgage? What are the benefits to doing a reverse mortgage?
Does the bank actually own the home if you do decide to go with a reverse mortgage? So you only receive up to 65% of the value of the equity in your home as of the time that you sign for the rev. mortgage? If you live fifteen more years and your home appreciates another 500,000 what happens to that equity?