QUESTION: Will a reverse mortgage require me to give up my home?September 22, 2018
QUESTION: What can I use the money I receive from a reverse mortgage for?October 7, 2018
No. Many Homeowners 62 and older are using a reverse mortgages as a strategic part of a sound financial plan.
A reverse mortgage line of credit can serve as a cash reserve that you can use as needed. (And unlike a traditional Home Equity Line of Credit, the unused reverse mortgage credit line grows over time.)
Monthly advances can help you supplement other retirement income, allowing you to avoid withdrawing savings or liquidating your investment assets. In any case, no monthly mortgage payments are required,which can improve your cash flow and help you live more comfortably.
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