CNBC is talking about Great Britain allowing people to sell them their houses and they can rent them back, i.e., sale leasebacks. Made me laugh, first time I have ever heard this “vocab word” used in real life. Maybe some of you use it way more than I do, but it struck me funny.
there’s a commercial running on tv featuring couples in their late years, happy considering that their houses are now paying for their expenses:)) pretty stupid:))
This is also known as a reverse mortgage. A shop I was at for a bit praised this tactic as the new annuity. Sell your home to the institution as an annuity and hope you don’t outlive the length of payments.
KJH, right on th spot:)
Guess if someone/couple is desparate to retire and don’t care about passing their wealth onward, this is not an awful idea.
Oh yeah, saw that commercial. No way I would do that.