Since the start of the year, we have had extremely cold weather in California, with pounding rainstorms and snow in areas of the state that have been buried. Many older homeowners and renters have particularly struggled to pay for heating their home, because the cost of natural gas soared, and became extremely expensive. Hundreds of dollars or more for simply heating your home and seniors on fixed incomes sometimes couldn't afford the heating bills.
It is terrible, no one should have to suffer from extreme cold, just because they don't have enough money to pay the gas company. It is a difficult time for everyone due to the cost of goods, services, food, medical costs and the list is endless.
A reverse loan might be a solution for older American adults who own their home. Because they could be eligible and use their equity to keep the heat on.
