"Nearly half of people over 55 have little or no retirement savings but consumer advocates are now saying that taking out a reverse mortgage could be a smart way to bring in more money"
-Lester Holt, NBC Nightly News
Could Getting a Reverse Mortgage Help Save You Money
There's good reason why many experts are now recommending a reverse mortgage.
A reverse mortgage, more accurately also called a Home Equity Conversion Mortgage, or HECM, is a safe and effective key to opening the door to many retirement strategies, as reflected in up-to-date coverage, from these respected media sources.
Wall Street Journal
New Thinking About Reverse Mortgages
The New York Times
The Quiet Comeback of Reverse Mortgages
Homeowners Have Strong Protections Insured by The Federal Housing Authority (FHA)
Every HECM requires pre-counseling by an independent, certified expert to make sure you are a good fit for the loan, and vice versa.
And FHA insurance guarantees that no matter what happens in the housing market, repayment is capped at the home's final value, protecting heirs and the estate.
And make no mistake - you will continue to own your home - in fact you are required to be on the title.
Reverse mortgages are not for people with few financial options, either. Quite the opposite - new rules require credit and income underwriting similar to other mortgages.