Can widows benefit from reverse mortgages?

I came across an advice column in which a widow looks to avoid buying an annuity but may qualify for a reverse mortgage. Sound advice or junk information, you make the call.

DEAR BRUCE: I need help. I am a 75-year-old widow with little income. My modest home is paid for. I have $40,000 in CDs, but interest rates are dropping to the point where I can’t live on the small checks anymore. I have had several salesmen trying to sell me annuities, which will pay a higher interest rate, but are they safe? They are not federally insured. I hope you can help me. - Reader in Arizona See the Reply.

Written by charles dennis on October 7th, 2007 with comments disabled.
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