Social Security Now or Later???

Financial Planners are more and more recommending that their clients consider using a reverse mortgage as a tool to be a standby for retirement planning.  An article published in the Journal of Financial Planning explains the idea.

The article points out that using a reverse mortgage/creditline allows homeowners to use a portion of the creditline between the ages of 62-70 while delaying Social Security payments until the age of 70.  this allows the maximum benefit from Social Security.  Withdrawing from the credit line is tax free and the creditline balance grows over time.  It is a win-win situation.

It is an idea that is growing in popularity.  Let me know how I can help you.

 

 

http://www.fpanet.org/journal/StandbyReverseMortgages/

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About Marty Appel

I work with clients who are looking to purchase a home or refinance their existing mortgage using the FHA HECM (Home Equity Conversion Mortgage). I have developed a specialty with over 14 years’ experience in reverse mortgages. I pride myself on my ability to assist older homeowners navigate the reverse mortgage process with ease and confidence. I help seniors improve their financial future and remain in their homes. My technical knowledge of FHA rules and lender policies help clients avoid the pitfalls in the loan process experience. My passion and longevity make me an excellent source of valuable information about everything there is to know about a reverse mortgage.
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