Reverse mortgage a better option compared to gambling

When they need money for a financial emergency some people prefer to gamble hoping to make a lot of money in a short period of time. However gambling is risky and most gamblers will lose money. Instead if the person owns a home, it will be better to get a reverse mortgage on the home,especially if the person does not have any relative or friend who can help in the financial emergency. Depending on the lender offering a reverse mortgage, the home owner can opt for a lumpsum payment or a monthly payment or a line of credit which can help tide over the financial problems.

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