Reverse Mortgage Articles - AgingCare.com

Reverse Mortgage Articles

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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.

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?

Use this guide to explore all your options, such as insurance coverage, benefits and out-of-pocket sources, that can be used to pay for home care.

Seniors are pitched the benefits of a reverse mortgage as a way to "unlock" the equity in their home and pay for a better lifestyle. If they take advantage of this option, what happens when they no longer live in the home and try to qualify for Medicaid?

For some homeowners, a reverse mortgage may be the best way to provide retirement income or pay off debts. However, seniors have other options that may make more sense than a reverse mortgage, depending on their goals and financial situation.

Reverse mortgages are becoming increasingly popular ways for seniors to increase their cash flow and cover costs. As with any financial strategy, it’s important to consider the benefits and drawbacks of this method for increasing retirement income.