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Myths & Realities of Reverse Mortgages: True or False?

Reverse mortgages are life-savers.  True – More and more seniors are finding this true

 

Reverse mortgages are scary.  True – Make sure your broker/lender is federally approved

 

We were able to completely pay off our mortgage. True – Many seniors do this everyday

 

Our reverse mortgage let us finally retire. – True – Many more seniors can happily retire

 

Reverse mortgages are expensive.  True – Make sure all costs are worthwhile

 

Most seniors could benefit from a reverse mortgage. True –Most find it beneficial

 

My mother was able to come home from the nursing home. True– This happens a lot

 

There are a lot of reverse mortgage scams around. True– Use an approved broker/lender

 

We were thrilled to be able to retire and stay in our home.  True – This is a major plus

 

Our reverse mortgage has really improved the quality of our lives. True - Repeatedly

 

Now we can afford home care. True – Many spouses re-unite - out of nursing homes

 

We took the most fantastic vacation of our lives. True – You should hear all the stories…

 

My parents got a reverse mortgage and their home is like new. True – Another big reason

 

The reverse mortgage allowed us to be completely debt free. True – This is very common

The extra $800 a month makes our retirement so much more enjoyable. True - Absolutely


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