- Joined
- Mar 30, 2023
The problem is that the reverse mortgager will value it at 3.5 million dollars and give them a 50 year reverse mortgage (that cannot be transferred and inherited), and then take ownership of the house when the boomers kick the bucket after only paying out a grand total of 250k. The boomers will be convinced they got a good deal, the reverse mortgager will know they did, and home ownership for the average Canadian gets delayed for a few more years.They absolutely fucking deserve what is what is coming for them. Boo fucking hoo that the boomers cant sell their 4 bed 2 bath townhouse for 3 million dollars when they bought it for like 300k.
