Reverse mortgages seem to be almost too good to be true at first glance... http://www.cohenoalican.com/blog/1191-reverse-mortgages-are-they-for-you.html

1. Reverse Mortgages;
Should I?
COHEN AND OALICAN, LLP – ELDER
LAW, MEDICARE AND LONG TERM CARE
ATTORNEYS – SERVING GREATER
BOSTON AND SOUTHEASTERN
MASSACHUSETTS
Boston Office Raynham Office Andover Office
617-263-1035 508-821-5599 978-749-0008
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2. Reverse Mortgages;
Should I?
 Reverse mortgages seem to be almost too good to be true at
first glance. And like everything else that seems too good to
be true, it too has its downsides. The closing costs on this
type of mortgage tend to be a lot higher than usual. Most
instances the closing costs will be “rolled” into the loan, but
that means less money for you in the long-run.
Reverse mortgages are getting more and more popular with
people that are planning for retirement.
Boston Office Raynham Office Andover Office
617-263-1035 508-821-5599 978-749-0008
Directions Directions Directions

3. Pros and cons of a reverse
mortgage; retirement planning
Here, Elder Law Attorneys Cohen & Oalican will go more into detail to
help you learn if getting a reverse mortgage is the right thing for you:
Pros of a reverse mortgage
 Receive a monthly income
 Don’t have to rely on family members for income support
 Extra money for vacation
Cons of a reverse mortgage
 High closing costs
 May affect your eligibility to collect Medicaid
 Loan has to be paid back after your death – home will have to be
sold
Boston Office Raynham Office Andover Office
617-263-1035 508-821-5599 978-749-0008
Directions Directions Directions

4.  There are alternatives to a reverse mortgage.
You could choose to just sell your home and
downsize to a smaller/less expensive home or
apartment. You could get a roommate; a
roommate – if you can find the right one – will
also offer companionship at the same time they
are helping with the bills.
Make sure you explore all your options before
jumping into anything, especially something
that will burden your family. Call Elder Law
Attorneys Cohen and Oalican with any
questions that you may have. Offices: Boston,
Raynham and Andover Massachusetts.
Boston Office Raynham Office Andover Office
617-263-1035 508-821-5599 978-749-0008
Directions Directions Directions

5. Attorneys Cohen &
Oalican specialize in Elder
Law; where protecting
your assets and your
dignity is their core
mission.
Boston Office Raynham Office Andover Office
617-263-1035 508-821-5599 978-749-0008
Directions Directions Directions