The state of the economy influences on the reverse mortgages and their costs
. Because this loan will be paid back after years and there is no monthly payments, the costs are hidden ones. Many seniors may feel, that the money is free and do not care to calculate the full costs. However, the choices a senior will make before signing will have a big influence on the final costs. One of the most important ones is, whether a senior will take a variable or fixed interest rate.