This is a great article illustrating many aspects of how a Reverse Mortgage can be a terrific retirement tool as long as you are not flagrant with your money. If you use it for financial balance and create cash flow for monthly living expenses so you can live more comfortably within your means, then it can help provide a nice path to a more secure retirement. There are also tremendous benefits, not mentioned, that will protect your spouse after your passing and many aspects of the non-recourse loan that will insulate your heirs and your estate from losses on the home should outlive your home equity. Careful planners and people with longevity often win nicely over time with the addition of a government insured Reverse Mortgage to their retirement plan.
Click here to read the full article on CNBC
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.