Caregiving Topics

Reverse Mortgage for Seniors

A loan borrowed against the value of one's home. The agreement allows an eligible homeowner who is at least 62 years old to borrow against available equity while they remain in their home. The loan must be repaid once the borrower's primary residence changes or upon their death.

Reverse Mortgage Articles

Using a Reverse Mortgage Loan to Age in Place
A reverse mortgage loan is one option that may deserve consideration as retirement needs grow and savings and Social Security benefits may not be enough to retire on comfortably and with confidence.
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The Ins and Outs of a Reverse Mortgage Loan: Is It Right for You?
A reverse mortgage is a type of home equity loan for seniors age 62 and older that is used to turn a portion of their home equity into cash. Is this financial planning tool right for you?
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How Reverse Mortgages Affect Medicaid
Seniors are pitched the benefits of a reverse mortgage as a way to "unlock" the equity in their home. However, what happens when they need a higher level of care, can no longer live in the home or try to qualify for Medicaid?
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Understanding the Pros and Cons of Reverse Mortgages for Seniors
More seniors are turning to reverse mortgages as a way of receiving supplemental income in retirement and covering the costs of aging in place. As with any financial strategy, it’s important to consider the benefits and drawbacks very carefully.
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