Consumers scramble for cash. Predators lurk.

Some new ways the broke and desperate are trying to conjure up money, according to WSJ.

Selling your insurance policy at a greatly reduced price to a company that resells to someone who pays the premiums and waits for you to die. Charming.

Reverse mortgages. You get a loan or income stream against your house that doesn’t have to be paid until you die or move out. I’m guessing you end up with nothing even close to the actual value of the home.

Raiding retirement accounts. With or without debit card loans.

A REX agreement, you in effect sell an interest in your house (at the usual greatly reduced rate of course) for a flat amount, they get their share when you die or sell.

I wonder how long it will be before these bizarre and often predatory financial products are bundled by the thousands into bonds then sliced and diced into CDOs. Oh wait, that process already happened with mortgages, and didn’t end well, as I recall.

But that won’t stop them from doing it again. Meantime, desperate consumers are literally borrowing against their future to pay bills now.