[legion]

I've seen a lot of TV adds for these lately. What are they? A bank slowly buys a paid-off house back from the owners?

Seems like there are many potentials for abuse of the elderly here (people who mostly own their homes 100%):

1) The "price" they buy the house back at. I expect it to be low compared to the market, but high to the homeowners if they bought the house 30 or more years ago.

2) It seems that the commercials tend to encourage recipients of a reverse mortgage to spend, spend, spend. No mention of screwing your heirs out of their inheritance.