It seems that Boston College has created an ebook that discusses in a positive manner, the reasons why a reverse mortgage can provide options for seniors who either want to remain in their home or possibly relocate into something smaller or to be closer to their adult children.
I am going to share a summary of an article that discusses the ebook and what kind of information and examples that it provides to anyone who is looking for additional information about how to use the FHA reverse loan program.
It’s good information.
Boston College eBook Touts Retirement Benefits of Getting a Reverse Mortgage
Posted By Jason Oliva On September 16, 2014 @ 6:02 pm In HECM,News,Retirement,Reverse Mortgage
“For retirees looking to use their homes as income during retirement, they have one or two choices: either downsize or get a reverse mortgage, according to a new ebook  from the Center for Retirement Research at Boston College.
The booklet, Using Your House for Income in Retirement, is filled with infographics, definitions, examples and other useful tips for retirees who may be looking to shore up their savings by drawing on home equity as an additional source of funds during retirement.
WIth housing being one of the biggest single expenses for homeowners age 65 and older—consuming at least 30% of incomes for retired households—the ebook suggests that downsizing or getting a reverse mortgage can help add to an individual’s savings, cut expenses and free up income.”
The summary is a bit long, so I will share the remainder of it in two additional posts.