In the place where I used to live, there is a very spacious and big house that was for sale last year for 12 million pesos. According to the "Chismis" or grapevine it was bought by the city councilor who lived in our area.
If I really have the money I would buy that house. For me living in that kind of house is feeling like Cinderella. It looks like an ancestral house. I've been there once only when it was used as a meeting place for our church. It was a splendid house, with big spiral staircase and a center fountain and spacious parking space that can accommodate at least 10 cars.
If only the owner know how does a reverse mortgage work because they would not have to sell that house.
If only they were able to know some Information on reverse mortgage we could still enter that house and it will not be owned by other people I do not know.
I just hope that the next owner will also sell the house and that I own more than 12 million pesos so I could own that house and lot. It will at least be a home for my parents who are already retired. It would be great for my dog, Cassie. I can also have a small school inside the area because it is spacious. A pre-school is a good idea because there are no pre-school in that area yet.
If I own that house, I would have checked for reverse mortgage FAQS so I could preserve the house and not sell it. It was a dream house for me.