Lending Money to Family Members: Worth the Risk?

When it came to giving out advice, there were two things that my momma always said. One, never go to bed mad and two, never lend money you can’t live without. Of course, she never really told me how to deal with the guilt that came along with having to say no, but I soon figured out that having a guilty conscious was a lot less burdensome than having an empty bank account. Dealing with relatives who are constantly looking to you to bridge the gap between their last … [Read more...]

How Does a Reverse Mortgage Work?

Thinking about a reverse mortgage? You have probably seen the commercials for them on TV and heard them on the radio, but how many of you actually know how a reverse mortgage works? In a nutshell, a reverse mortgage is the polar opposite of a conventional mortgage. In a reverse mortgage, the borrower receives a monthly payment from the mortgage lender instead of making a monthly mortgage payment to the lender.  But, even though you are receiving a check from the … [Read more...]