MYTHS About Reverse Mortgages
Reverse mortgages have evolved from a needs-based product to a product many financial planners recommend as an important component of a comprehensive retirement plan.
Below, the myths are separated from the facts.
In comparison, a reverse mortgage is a long-term financial solution that won’t be called based on economic changes such as interest rates increasing, property values decreasing, or a change in the homeowner’s income. Also, money from a reverse mortgage provides the ability to prolong retirement savings.
*Accurate as of April, 2015. Some restrictions may apply.