Reasons to consider a Reverse Mortgage

If your cash flow has been depleted because your income is lower, your investments are worth less or your expenses have increased (like for medical expenses) a reverse mortgage evaluation may be just what is needed. Most recently I helped two gentlemen who were having cash flow issues by educating them on how a reverse mortgage would help. And, of course, they were both surprised that they did not give up ownership of their homes to the bank, as many people believe. That's right, the title to the home stays with the borrowers and when the home is sold and loan paid off, any remaining equity goes to the owner or to the estate. Please pass along any questions.