Deborah Nason at CNBC said in an article called, Reverse Mortgages: Opportunities and Concerns, that financial advisors are still recommending reverse mortgages for cash management, delaying Social Security withdrawals and funding long-term care. “I’ve been recommending protective reverse mortgages for clients who are over 62 and have no mortgages, or very small mortgages,” said certified financial planner Mark Wilson, president of Mile Wealth Management. “These can provide a line of credit that’s available if ever needed.”
Sally Long, CFP, principal and wealth manager with Modera Wealth Management, commented that a reverse mortgage could be a way to fund long-term care expenses for clients who may not qualify for long-term care coverage. “What I find compelling about the reverse mortgage for this need is the growth in the line availability along with the feature that doesn’t require payments of advances–but the ability to do so exists,” she said.
Read more of the CNBC article by clicking here: https://www.cnbc.com/2017/11/07/reverse-mortgages-opportunities-and-concerns.html.
Read more about using reverse mortgages for long term care by clicking here: http://reversemortgageinstitute.net/reverse-mortgage-uses/using-reverse-mortgages-to-fund-long-term-care/
If you are ready to talk about getting your own reverse mortgage, call Steve today at: (719) 434-3919. Why wait?
