Versatile Solution for Seniors
The October 2017 issue of Kiplinger Personal Finance magazine features an in-depth look at the Home Equity Conversion Mortgage (HECM), also known as the reverse mortgage. The article examines a number of scenarios and investigates the product in great detail. Acknowledging the often negative perception of reverse mortgages as “loans of last resort” they found that there are many reasons to include a reverse mortgage in your financial plan.
Although the article was published just as HUD announced changes to the reverse mortgage program, the articles analysis remains accurate and unchanged.