Reverse mortgages may allow homeowners to stay in their houses indefinitely, but they come with significant risks. If homeowners need to move to assisted living or a nursing home, the loan becomes due, often forcing a home sale. This can result in substantial capital gains taxes and prevent heirs from benefiting from a stepped-up basis. Understanding these drawbacks is crucial for homeowners considering this option.
This video is presented for educational purposes only. It is not meant to provide legal advice. For us to provide you with legal advice, we need to meet with you to understand your specific issues.
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