They will calculate your estimated date of death based on your age now and your health. They then set your monthly payment so that they have paid you no more than 75% of the equity you have in your place at present evaluation. If you die earlier (which they hope for) they will do even better. One must remember, they are in this business to make money, not to help you or anyone else. You will never "outlive" their calculations. That would be very stupid of them. Kinda like the rich tycoon talking you into letting him take out a $500,000 life policy on you at age 70 and listing him as beneficiary and he will pay you $ 500 per month as long as you live just for the privilege. Once you see ALL the figures and conditions (you will be responsable for all upkeep and repairs to keep the house in "as contracted" condition) I think you will seek another way to do accomplish your goal. Just another "legal but preditory" business. Not just an opinion but we've looked into it for my mother-in-law who was sucked in by the fancy "celebrity" sales force on TV.
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Today's Featured Article - Tractor Hydraulics - The Basics - by Curtis Von Fange. Hydraulics was one of the greatest inventions for helping man compound the work he can do. It’s amazing how a little floor jack can lift tons and tons of weight with just the flick of a handle. What’s even more amazing is that all the principals of hydraulic theory can be wrapped up in such a small package. This same package applies to any hydraulic system from the largest bulldozer to the oldest and smallest tractor. This short series will take a look at the basic layout of a simple hydraul
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