Australia Reverse Mortgage Disadvantages

There has been a lot of talk about Austrialia's Reverse Mortgage programs, so I would try to add what I found.

I recommend that you speak with a lender in your area to find out exactly the advantages and disadvantages pertaining to your individual situation.

Here are a few disadvantages that I found on Yahoo!:

Disadvantages
The main disadvantages of Australia reverse mortgages are they can limit your options in the future:

- you may not have enough money left to fund moving into a retirement village
- the value of your estate may be much less than anticipated because the debt increases over time
- if you take the loan as a lump sum it may have an impact on your eligibility for Centrelink payments.

Visit our reverse mortgage information page to learn more about Reverse Mortgages, and how they work.

Till next time, have a blessed day..