Matt Stout shares three safe reverse mortgage reforms that have made a big difference for retirees.
A reverse mortgage can act as a safety net to avoid spending savings in these situations and offers borrowers many benefits like the ability to stay in their home for as long as they want and the option to take out a line of credit without making payments.
1. Family protection reverse mortgages now allow all borrowers to stay in the home without making a payment, no matter how old they are or what they owe on the home.
2. Protect your assets from being taken away and draining your savings.
3. Keep Equity Loan amounts lower and preserve equity for something else.
Did you learn something new? Let us know in the comments below!
0:46 Reform #1 – Family Protection
1:31 Reform #2 – Asset Protection
2:18 Reform #3 – You Keep Equity
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