Does a Reverse Mortgage Make Sense?

A reverse mortgage is a way of tapping equity in your home without incurring current interest payments.

Simply put, a reverse mortgage allows you to obtain a loan against your home with interest and payoff not due until you either leave the home or pass away.

The main drawback to reverse mortgages until recently is that upfront closing costs have been quite substantial. However, regulations have recently been changed significantly reducing those expenses and, hence, making a reverse mortgage more attractive.

If you need guidance in being directed to reputable firms offering reverse mortgages, let me know and I will do my best to help.