Here is the last portion of an article I have shared in my two previous posts, regarding how Reverse loans are becoming accepted as a way to extend retirements funds.
In the previous post, I discussed the recent changes to the federally insured loan program, more options and the reduction in fees. They are safer than ever, provide necessary funds as needed and can extend the life of a retirement fund by not drawing down on it.
Here is the rest of the article
MarketWatch: Will Reverse Mortgages Grow in Popularity?
Posted By Alyssa Gerace On December 17, 2013 @ 4:35 pm In News,Reverse Mortgage
“Over the past year or two, a few articles have been published in the Journal of Financial Planning and other professional publications suggesting that reverse mortgages have a place in a comprehensive approach to personal financial management for retirees,” Peter Bell, CEO of the National Reverse Mortgage Lenders Association, told MarketWatch. “There are a few different approaches advocated by different planners, but essentially they all boil down to strategies to preserve the duration of assets through retirement.”
In 2013, nearly 60,100 reverse mortgages were originated, according to FHA data . “But while retirees may currently know only one person with a reverse mortgage today,” says MarketWatch, “there may come a time when they know 20.”