Approaches: Neighbor Revers Reverse Mortgage

I think the neighborhood approach is practical depending on where one lives and the relationships an elderly person has with the neighbors around them. The closer someone is, relationships-wise, to their neighbor, the more inclined the neighbor will be on checking on the elderly neighbor. For example, when my grandma was still alive, her next-door neighbors, who she knew for many years, looked out for her and would do kind gestures such as rotate which neighbor mowed her lawn as they knew she lived alone and did not have the energy to do those physically demanding tasks anymore. My family and grandmother were very appreciative of those neighbors because they took time out of their days to do something for someone who wanted to age in her home but needed additional help taking care of the yard. As I mentioned before that the location of where someone lives could impact if neighbors are willing to help, I feel that where my family and I live, a house with a driveway off a decently busy road, the practical help from neighbors would not work as well as it did for my grandma who lived in a small neighborhood.
2. What is a reverse mortgage? …show more content…
While the older adult is alive or still lives in the house, the adult is charged an interest and a fee that goes to the lender, whom is typically a bank. Additionally, until the older adult passes away or the house is sold to someone else, the lender retains the title of the