Reverse Mortgage Risks
My parents have a reverse mortgage on their home. My elderly father has incurred an insurrmantable amount of credit card dept he will not be able to continue to make payments on. I am concerned that if he declares bankrupt he may lose his home. I guess the question is will he lose his house if her declares bankrupt, and if so, what would be the outcome if he just doesn't pay the credit cards without declaring bankrupt.