Reverse Mortgages: Myths and Facts
A Q&A of all the most common misconceptions and myths regarding reverse mortgages.
A Q&A of all the most common misconceptions and myths regarding reverse mortgages.
More people are using a reverse mortgage line of credit for just that, a line of credit that makes cash available for life’s unexpected turns, or just additional security that grows until you choose to use it.
You owe it to yourself and your family to know your options so that you can live your best retirement.
The reverse mortgage is no longer the “loan of last resort.” Financial planners are increasingly seeing it as a viable and dynamic tool to hedge against the future, which for all of us, is full of unknown possibilities. Shelley Giordano, chair of the Funding Longevity Task Force, said that even at a slower growth rate, […]
“Reverse mortgages, which let retirees tap the equity they have built up in their homes, have become a better deal in recent years. And they can be valuable as part of your overall financial plan for retirement,” says researcher Wade Pfau, author of a new book, Reverse Mortgages: How to Use Reverse Mortgages to Secure […]
Reverse Mortgage – Is it the name, or the actual loan product that causes people to shy away? Apparently, it is the name! When presented with the description of what a reverse mortgage can do vs a traditional HELOC on which payments must be made, the majority of people chose the reverse mortgage. They were […]
“After factoring in supplemental insurance premiums and other uninsured health costs, the average retiree only takes home 75% of his or her Social Security benefits, according to a new study from researchers at Tufts University and Boston College. The researchers also warn that they only analyzed medical expenses, citing a 2017 paper that concluded that […]
Ninety-seven percent of Americans make no advanced plans for their eventual senior care needs. The line of credit feature on a reverse mortgage can be a valuable retirement asset to help retirees fund longevity. There are four main ways a reverse mortgage can be used to provide additional retirement security. Receive a Lump Sum at Closing […]
A Reverse Mortgage is a government insured loan that allows homeowners who are 62 years or older to convert the substantial equity in their home into non-taxable income. The amount of money that will be available is determined by the appraised value of the home, the amount of equity in the home and the age […]
