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‘I’m completely gobsmacked’: My elderly brother has a reverse mortgage — yet he still ran out of money. Do I help?
- What: A retired couple is struggling to help their elderly brother with a reverse mortgage.
- Why: The brother's financial situation is dire despite having a reverse mortgage, highlighting the potential pitfalls of these financial products.
- Signal: The brother's financial struggles may be a warning sign for others who have taken out reverse mortgages.
- Target: The couple is seeking advice on how to help their brother without taking on his financial burden.
- Risk: The couple's decision not to help their brother may expose him to the risk of losing his home.