Reverse Mortgages: Benefits, Drawbacks, and Alternatives for Retirees and Their Heirs - A Comprehensive Guide to Making Informed Financial Decisions
June 14, 2023
The article discusses the benefits, drawbacks, and alternatives of a reverse mortgage for retirees and their heirs. A reverse mortgage is a loan that allows retirees to borrow against the equity in their home.
I am designated a Certified Reverse Mortgage Professional by the National Reverse Mortgage Lender's Association. I work exclusively with reverse mortgage loans in nine states. I have a passion for hel...
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I am designated a Certified Reverse Mortgage Professional by the National Reverse Mortgage Lender's Association. I work exclusively with reverse mortgage loans in nine states. I have a passion for helping my clients. I think everyone can and should live their most comfortable life. I am the founder of the National Aging in Place Council- Orange County, California, emeritus. I've practiced yoga all my adult life and am strongly interested in health and well-being. I am a lifetime helper.
This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA). It is not intended to be a substitute for legal, tax or financial advice. Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice.
*There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.