Tag: rip-off

The maximum amount of money you can receive via a reverse mortgage is some fraction of your home’s worth. Depending on interest rates a 62-year old might get between 13% and 52% of the home’s value, minus closing costs.

Willie Sutton, a prolific bank robber in the 20th century, was famously, if erroneously, credited with a famous quote. Asked by a reporter why he robbed banks, Sutton supposedly answered “because that’s where the money is.” The message stuck, generating a principle…