Sometimes referred to as “Reverse Mortgages for Seniors” or as “Reversed Mortgages”
In the 10 years I have been doing Reverse Mortgages, I have frequently heard a client say they were going to use up their savings before they considered a Reverse Mortgage. I didn’t think anything of it at the time. It seemed reasonable.
Although reverse mortgages may not be the right solution for everyone, I believe anyone age 62 or older should know of their existence and have some current, accurate knowledge of how they work. In general, I think of a reverse mortgage as a cash flow instrument. If you have plenty of non-taxable cash flow to live the way you wish, then a reverse mortgage would likely not make any sense. If you find you cannot do all you wish, then a reverse mortgage may be worth investigating.
I think you’ll find these videos as a nice, quick introduction to the subject of Reverse Mortgages. I am hoping to educate you on some new facts that you may have not heard of yet!