1. You are now 80 years old and, unfortunately, you have outlived your retirement fund. You collect income each month from Social Security, but you are still left with a $3,000 shortfall. You do own a...

1. You are now 80 years old and, unfortunately, you have outlived your retirement fund. You collect income each month from Social Security, but you are still left with a $3,000 shortfall. You do own a lovely home valued at $200,000. You are considering a reverse mortgage so you can stay in your home. The terms would include a financing fee of $10,000 and interest of 10%. List the pros and cons of taking on a reverse mortgage. What would be an alternative?