New math on reverse mortgages
Advisers now are promoting them as a valuable tool for retirement planning, thanks to recent safeguards
“The reverse mortgage has won some new respect.
A decade ago, most financial advisers would roll their eyes at the mention of reverse mortgages, loans that give homeowners an advance on their home equity and allow them to delay repayment until the home is sold. Such products, these advisers used to say, weren’t for their clients, but rather for those who didn’t prepare financially for retirement. But new safeguards in recent years have changed this.”