Is a Reverse Mortgage Your Key to More Retirement Income? The Answer is “Maybe” – but It’s Important to Proceed with Caution.
Here at AgingOptions we’re frequently asked for our view of home equity conversion mortgages, or HECMs – more commonly known as reverse mortgages. As the pandemic has upended the plans of many older workers, forcing some to retire before they had planned to, the idea of a...
CBS Calls Reverse Mortgage the “Rodney Dangerfield of Retirement”
Earlier this year, we ran across an article that we wanted to share again, because we think the premise is still valid. In spite of all its advantages, and an ever more robust set of legal safeguards, there are still millions of homeowners apparently unwilling (or too...
Main Street Banks Discover Reverse Mortgages, Says New York Times
When a financial product becomes so mainstream even the New York Times gives it a thumbs-up, it’s probably time for the skeptics to take another look. And with the growing chorus of financial experts singing the praises – albeit cautiously, in some cases – of reverse...
The Reverse Mortgage Has Won New Respect, says Wall St. Journal
What a difference a few years makes! “A decade ago, most financial advisers would roll their eyes at the mention of reverse mortgages,” writes the venerable Wall Street Journal. However, new safeguards and changes to laws governing these financial instruments “have led many...
Another Reverse Mortgage Benefit: Helping Delay Social Security
Just about everyone knows by now that the single best way to boost your Social Security benefits is to wait as long as possible before you start drawing them. While 35-40% of adults start drawing benefits at the earliest allowable age (62 for most), the fact is that...
Why We Did It: Seniors Explain Why They Opted for Reverse Mortgages
Reverse mortgages are on the rise once again. One industry news source reported that the number of reverse mortgages, also known as HECM for Home Equity Conversion Mortgages, jumped more than 6.6% in 2015, after declining somewhat in 2014. These financial instruments allow...
Popular Financial Expert Shifts Her View on Reverse Mortgages
When it comes to popular experts on financial planning, few names carry more familiarity – and more weight – than Jane Bryant Quinn. She has been a nationally syndicated columnist on financial matters for decades, writing in Newsweek and the Washington Post. She produces a...
Is a Reverse Mortgage Right for You? Ask Yourself These 5 Questions
If you’re like most of us, your house is the most important asset you own. Deciding whether, and when, to enter into a reverse mortgage to tap into the equity in your home is one of the most important and possibly the most difficult decisions you’ll have to make.
If you’re a...
Reverse Mortgage Ads Can Create Confusion, Misinformation
“Is a reverse mortgage right for me?” That’s the question more and more senior homeowners are asking. As reverse mortgages gain new popularity, we hear that question all the time at our Life Planning Seminars. But as frustrating as it may seem, the answer to the question is,...
WSJ: Reverse Mortgage Could Help Boost Retirement Income By 30%
by Emily Study
Taking out a reverse mortgage could help increase retirees’ annual income by 30% when done in conjunction with a few other retirement planning steps, according to a recent Wall Street Journal article.
The strategy comes at a time when retirement fears plague...
