There are perhaps as many reasons to do a reverse mortgage as there are senior homeowners. For seniors from all walks of life, the reverse mortgage is a life-changing event. Clients, their families, and their financial advisors tell us that by eliminating concerns about their finances they achieved incredible peace of mind.
Some Common Uses for a Reverse Mortgage:
The Conversation among Professionals about the Benefits of a Reverse Mortgage Has Changed
Many financial planners, money managers, and legal professionals have traditionally been reluctant to advise their clients on the use of reverse mortgages. More recently, however, research conducted by such organizations as The Center for Retirement Research at Boston College, The Finance Department of Texas Tech University, and researchers Ph.D. and tax attorney Barry Sacks, and his brother, Ph.D. and economist Stephen Sacks, has revealed interesting applications for the use of a reverse mortgage in retirement planning. Perhaps the most compelling benefit was the Texas Tech research that demonstrated how a reverse mortgage can increase the likelihood of lifetime cash flow from 55% to 90%.
Other Ways in Which a Reverse Mortgage Can Be Used:
|Quality of Life
Reverse Mortgage Resources for Professionals:
If you are a financial, banking, real estate, or legal professional, we encourage you to visit the Reverse Mortgage Focus® website for more information on how an FHA-insured reverse mortgage might provide a benefit to your client.