Reverse Mortgages – As a Financial Planning Tool

Reverse mortgage programs are designed for homeowners 62+ years old. These easy-to-qualify-for, low-interest rate, loans offer the opportunity to tap into some of the unexpectedly large accumulation of equity that has built up in their property. Monies withdrawn are tax-free and can be used for any purpose the homeowner wishes. Examples range from buying a vacation or investment property, to gifting funds to children and/or grandchildren, to establishing trusts, to purchasing long-term care insurance and/or life insurance. The funds from a reverse mortgage can be used to strengthen the financial future of the senior homeowner.