(WTVM) - There are several TV and radio advertisements on reverse mortgages.
Some of the advertisements feature celebrity spokespeople explaining how the mortgages can be the answer to retirement needs and more. However, not all reverse mortgages are created equally.
Kelvin Collins with the Better Business Bureau explains how the mortgages work. Collins gives details on the following:
- What reverse mortgages are and who they are best for
- Tips to keep in mind to make sure you’re getting a good deal
- Involving family and heirs