Personal Finance

Q I am a 69-year-old widow and took out a reverse mortgage loan in 2004 for $40,000. Not for one moment even considering that I could live a lot more years. I chose not to make any repayments such as interest only, mainly because I cannot afford to. This loan was to enable me to have a few holidays and update my car. My property at the time of taking out this loan was valued at $200,000. Interest rate on the loan began at 7.7 per cent. It is now 8.5 per cent. I believe my property is now worth ...