Where a HECM* Reverse Mortgage May Fit
- Divorce
- Consolidate debt
- Legacy planning
- Access dead equity
- Buy a second home
- Insure home equity
- Save the family farm
- Extend existing savings
- Guaranteed tax-free income
- Pay for in-home assistance
- Delay taking Social Security
- Interest deduction management
- Maintain or regain quality of life
- Assist grandchildren with college
- Eliminate current mortgage payments
- Protect adult children’s retirement
- Can’t qualify or afford LTC insurance
- Afford to take vacations or visit family
- Supplement income to meet monthly needs
- Provide income security for surviving spouse
- Distribute wealth without disrupting investments
- Increase control over entire financial portfolio
- Purchase a home without with no monthly payments
- Establish financial safety net for unexpected expenses
- Manage tax consequences associated with other assets
- Downsize to new home while enjoying additional wealth for a more secure retirement
*HECM, that’s the reverse mortgage insured through the Federal Housing Administration.