Reverse mortgages have the potential to help millions of Americans who might be ill-prepared for retirement, according to an article from The Mortgage Professor.
Citing a study from The Center For Retirement Research at Boston College revealing millions of Americans have not yet made adequate financial preparation for retirement, Jack Guttentag—a.k.a The Mortgage Professor—suggests the Home Equity Conversion Mortgage can be a partial solution to the crisis.
Zeroing-in on three types of seniors whose financial problems differ in severity, Guttentag shows how a reverse mortgage can supplement an individual’s retirement savings, whether they have few financial assets, substantial mortgage debt or if they just want to maintain their standard of living.
Read The Mortgage Professor article.
Written by Jason Oliva
