Hi everyone and welcome back to Money Girl, a podcast that helps you master your money so you can live rich and love the journey.

My name is Laura Adams. I'm a personal finance expert

and author based in Silicon Valley. You can learn more about me at LauraD Adams.

And while you're there check out my tools page on the site. I've

included resources that I recommend for just about every area of your financial life,

like saving, investing, building credit, managing money, and improving your productivity.

Also, before we get started, a big thanks to everyone who submitted five-star reviews of the show in iTunes.

You guys are amazing. I read every one of your

comments and really appreciate the feedback. If you enjoy the show, please take the

time to submit a quick review. It helps the show stay visible in iTunes so more people can find us

and stay inspired to live their best financial lives. Today's topic is about

reverse mortgages even though these products have been around for almost

three decades, many people still are not familiar with them and really don't

understand how they work. So in this show I want to explain what a reverse mortgage is, the different types you can get,

who can have one, and how much they pay.

Plus, I'm going to outline the major pros and cons to consider before you or someone you know gets a reverse

mortgage. This is a question that came in recently from a money girl podcast

listener named Steve B. So even if you are not in the market for a reverse mortgage, I hope you'll stick with me because you might have a family

member like a parent or an aunt or uncle who is interested in a reverse mortgage and maybe you can help them make a smart decision.

This is episode number 435 called pros and cons of getting a reverse mortgage.

Let's start out by defining exactly what a reverse mortgage is,

then we'll talk about the types and get into pros and cons.

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