The way these work is to essentially turn your house into an annuity. You're selling your house, presumably at below-market price, but instead of cash you get a guaranteed cash flow plus the right to live in your house. I assume you have to agree to keep the house insured and in good repair. I would also assume that you agree up front to let them make repairs out of your annuity proceeds if they deem repairs are necessary and you don't take care of them in a reasonable length of time.
Back when interest rates were high it made a lot more sense than it does now. With real estate values in the toilet and interest rates close to zero, you're better off to hang on to your house if it's paid off or you can afford to keep making payments.
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Today's Featured Article - Oil Bath Air Filters - by Chris Pratt. Some of us grew up thinking that an air filter was a paper thing that allowed air to pass while trapping dirt particles of a particles of a certain size. What a surprise to open up your first old tractor's air filter case and find a can that appears to be filled with the scrap metal swept from around a machine shop metal lathe. To top that off, you have a cup with oil in it ("why would you want to lubricate your carburetor?"). On closer examination (and some reading in a AC D-14 service manual), I found out that this is a pretty ingenious method of cleaning the air in the tractor's intake tract.
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