Dave Ramsey gives his brutally honest takedown on reverse mortgages - and he's spot on

Reverse mortgages, popular for accessing home equity, come with hidden catch-22s: high fees and potential for losing your home. Dave Ramsey advises against them.

Borrowers must pay substantial fees—generally seen as ridiculous—on reverse mortgages, including origination fees and closing costs, leading to greater financial burden over time.

While reverse mortgages can offer cash upfront without monthly payments, the risk of losing your home and accruing high interest makes them unattractive.

Ultimately, reverse mortgages seem appealing initially but end up complicating your financial situation due to high fees and the risk of home loss.

Read at 24/7 Wall St.