reverse mortgage effective retirement planning reverse mortgage info: Changes to Reverse Mortgage Program Has Positive Effect - 08/11/14 07:49 AM
Changes to the Reverse Mortgage Program Has Positive Effect
Amid the news that the positive press for the reverse mortgage program have surged in the past months and FINRA's declaration that the reverse mortgage is no longer a loan of last resort, individual financial planners are beginning to see the benefit of the reverse mortgage as a long term retirement planning tool as well as an alternative way of paying off one's mortgage and using those funds for other uses.
In the past, misuse of reverse mortgages lead to borrower defaults when they were unable to pay their property taxes and insurance. In addition, because most … (5 comments)