Click here to read the entire piece by the National Reverse Mortgage Lenders Association
- Salary Replacement - Add a leg to the retirement fund stool
- Work Interruption - Staying afloat when injury limits your activity
- Pay off your mortgage - Get rid of the monthly mortgage payment
- Buy a new home - With my equity? That’s right
- Home modification - Convert a room or basement to a living facility for an aging parent, relative or caregiver
- Universal Design - Re-model your home to accommodate aging
- Between Jobs - Affording to cope with life’s little surprises
- Longevity Insurance - Using home equity to “insure” retirement success
- Help Adult Children - Supporting your family through emergencies
- Grandchildren’s College - Assuring a good education
- Filling the gap until social security - The years in between work and play
- Health Insurance - Bridging the gap until Medicare kicks in
- Medicare Parts B and D - That coverage you need to pay for
- Long-Term Care - Paying actual costs and purchasing insurance
- Stay in Your Home - And be able to afford it
- Accidents and Care - Paying for short term needs
- Portfolio growth - Avoid tax consequences of selling off other assets
- Eliminate credit card debt - Eliminating the long-term burden
- Monthly Expenses - Use home equity to supplement Social Security and savings
- Real estate taxes and property insurance - Create a set aside and never miss payments
- Health related technology - Enable yourself to live at home alone
- Standby cash reserve - Don’t sell depressed assets
- Retirement plans, Estate plans and wills - Plan for the future
- Maintain a line of credit - that grows for health emergencies and surprises
- Avoid capital gains tax - cover expenses and consequences of selling off other assets
