We have seen it all over the news as people are talking about home values increasing by double digits in many areas of the country. Cities all over are also talking about the number of homes “under water” are rapidly declining causing many homeowners to rethink their future.
Older homeowners are now talking more about getting some relief by taking some equity from their home to supplement their depleted portfolios. I have talked about this recently pointing out that older homeowners who are in or close to the distribution phase of their retirement should consider adding a reverse mortgage to their distribution. I have information that I am giving to Financial Advisers that shows their clients will have more money for many more years if they will add the HECM reverse mortgage to their distribution strategy. It just makes sense to let this be the first resort and not the last resort of financial planning. Call me or write me for more details.