Reverse Mortgage

Do financial planners recommend reverse mortgages? Financial planners and advisors do recommend reverse mortgages as they’re a useful tool for seniors in retirement.  Let’s explore why a reverse mortgage might be a savvy option. Reverse mortgages allow homeowners 62 and older to access the equity they’ve built up in their homes. Unlike a traditional mortgage,…

Can I lose my home with a reverse mortgage? A reverse mortgage can be an amazing financial tool for seniors looking to access the equity in their homes and pay off their current mortgage. One common concern is whether you can lose your house with a reverse mortgage. The answer is yes and no. Unlike…

Why do banks not recommend reverse mortgages? Are you considering a reverse mortgage to access your home’s equity for retirement income or pay off your current mortgage? You might be surprised to hear some banks aren’t exactly cheering you on. While a reverse mortgage can be an amazing financial tool, it’s true that banks themselves…

What are the downfalls of a reverse mortgage? A reverse mortgage is an attractive option for seniors looking to tap into the equity of their homes for additional income during retirement and to pay off their existing mortgage. While there are many benefits, there are some downfalls that you should consider before committing to one.…