Question from a reader:
We are thinking about a reverse mortgage instead of just sitting on 100's of thousands of dollars. In this way we can utilize our equity in a wise way, including for the kingdom. What do you think? We are also wondering about this, since it means less for our children's inheritance.
Answer from Eternal Perspective Ministries:
Randy has written extensively about the dangers of debt in Money, Possessions, and Eternity. He does not address reverse mortgages in that book. However, what he writes about debt still applies to reverse mortgages. (See 11 Questions to Ask Ourselves About Debt)
Here are some more specific resources that you might find helpful (Crown Financial Ministries is an organization we especially recommend):
