I may be in the minority, but I think that considering a reverse mortgage can, in certain instances, be a viable financial planning alternative scenario. -Jeff
It’s a problem — home-owning seniors retiring with reduced income but healthy levels of consumer and mortgage debt — that seems to contain its own solution.The solution: consider the house as an asset like the others and use it as a way of managing your financial affairs, a move that could make for a more carefree retirement.
Read the entire article: Making the case for the reverse mortgage as a retirement planning option | Financial Post