Funding care is an important topic. A great way to address the care related issues of aging while allowing seniors to maintain their privacy and independence is to consider the addition of a Reverse Mortgage. Paying off forward mortgages, home equity lines, and high cost credit cards frees up money each month for living expenses and care. The importance of discussions with family should revolve around a plan for care and managing assets and income for such needs. It is not wise to avoid the subject only to circle back to this issue after a crisis has developed. Whether its care or a simple plan to keep debt in control while allowing you to live better within your means, basic planning is important and a HECM Reverse Mortgage is a nice tool for seniors to employ.
Read here for the full article by CNBC, titled "The retirement issue that no one is talking about"
George H. Omilan
President-CEO - NMLS# 873983
Jefferson Mortgage Group LLC
Located in Fairfax County - Helping seniors with Reverse Mortgages in Virginia, Maryland, DC and Pennsylvania.
Questions/Comments encouraged.