Loading ...Well sometimes it pays to have some debt ..If you have a Reverse mortgage but dont grab all the money and spend it..you can have a shelter by the lender because they put a lien for the maximun of the future loan on the house even though you dont owe it..That makes THEM protect you against lawsuits on the equity in the house . Also if you want to pay down all or part ,you can and the equity remains protected ! hehe make the debt work FOR YOU !
example : if you have a 300,000 house they put a lein of at least 500,000 on the house ,so no body is going to sue for a 300,000 house equity that has a 500,000 lein on it .BUT you can access the money at any time for any reason …Even if your house is fully paid for you become a TARGET by unscrupulous Lawyers ..protect it with a LEIN for more than its worth as long as you live in it . Make the system protect you !