When Can You Afford to Be Wrong?
Have you decided when can you afford to be wrong?
Which decisions can you make with confidence that will offer you the same penalty-free "do over" option that the Credit Crisis proved is available to governments, lenders, corporations and the professionals they employ?
Which of your committed choices carry the same "reserve the right to revise" qualifier that economists and forecasters now include in their proclamations of our future, so they can over-ride unpredictable factors and remain right whatever happens next?
When it comes to reverse mortgages, the “do over” option may be non-existent or may rely on individual need. Reverse mortgages do not get their name from the fact that their effects are easily reversible.
Rebuilding depleted home equity can take decades if not a life time, so an inappropriately-applied reverse mortgage can cause financial and lifestyle problems from which the property owner may not be able to fully recover. Hence the reason for writing the consumer-protection resource Reverse Mortgages. They are not for everyone although every property owner can benefit from understanding them and home equity management.
For more on adopting an independent attitude, read this article from my ongoing column “Decisions & Communities": Lessons Learned From The Credit Crunch: We're On Our Own
Which decisions can you make with confidence that will offer you the same penalty-free "do over" option that the Credit Crisis proved is available to governments, lenders, corporations and the professionals they employ?
Which of your committed choices carry the same "reserve the right to revise" qualifier that economists and forecasters now include in their proclamations of our future, so they can over-ride unpredictable factors and remain right whatever happens next?
When it comes to reverse mortgages, the “do over” option may be non-existent or may rely on individual need. Reverse mortgages do not get their name from the fact that their effects are easily reversible.
Rebuilding depleted home equity can take decades if not a life time, so an inappropriately-applied reverse mortgage can cause financial and lifestyle problems from which the property owner may not be able to fully recover. Hence the reason for writing the consumer-protection resource Reverse Mortgages. They are not for everyone although every property owner can benefit from understanding them and home equity management.
For more on adopting an independent attitude, read this article from my ongoing column “Decisions & Communities": Lessons Learned From The Credit Crunch: We're On Our Own
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