Lots of minds like concrete on here- All mixed up, and permanently set!
I'm just speaking of the reputable outfits (there can be scammers in every situation)- but the biggest misconception in the answers below is that at some point, they throw you out of your house. Not true. Its simply an annuity, funded by your home equity. The payments may stop if you outlive the annuity tables (depending on the terms of the contract), but you stay for life.
Works fine for a senior who wants to stay in their house, can't afford to as it stands, and the kids (if any) won't or can't help.
I sure hope none of the naysayers have a "Living Trust"- that's really the pot calling the kettle black, because living trusts are the biggest scam of all.
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Today's Featured Article - The Ferguson System Principal An implement cutting through the soil at a certain depth say eight inches requires a certain force or draft to pull it. Obviously that draft will increase if the implement runs deeper than eight inches, and decrease if it runs shallower. Why not use that draft fact to control the depth of work automatically? The draft forces are
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