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Is a Reverse Mortgage Right for You? Ask Yourself These 5 Questions

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If you’re like most of us, your house is the most important asset you own. Deciding whether, and when, to enter into a reverse mortgage to tap into the equity in your home is one of the most important and possibly the most difficult decisions you’ll have to make.

If you’re a homeowner 62 years old or older, you’ve probably been bombarded with offers for reverse mortgages. This financial tool can be an invaluable part of your retirement planning. However, since it is critically important that retirees protect their assets as they grow older, make sure you do your homework before you take out a reverse mortgage.

One of the best ways to get answers to your questions is to attend one of our upcoming LifePlanning seminars, listed on this website. In the meantime, this article from the website Senior includes five simple questions you can ask yourself to help you decide whether a reverse mortgage is right for you. This article also links to several other resources you might find helpful.

Our Aging Options website includes links to past articles on this important topic. Click on this Aging Options archives link for more on reverse mortgages. And when it’s time to explore further, we can also put you in touch with reverse mortgage experts we endorse. You can get all your questions answered in person by a reverse mortgage expert you can trust.

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