Sunday, December 28, 2014

They say home is where your heart is, well for millions of older Americans it's also where their money is.
According to the National Lenders Association (NRMLA), collective home equity for seniors 62 and older is $3.73 trillion, up 22 percent since spring 2012. And this year, as they have for the last four years, about 60,000 Americans will tap that equity in the form of a reverse mortgage to help fund their retirement, pay medical bills and maintain their current standard of living.The question is, should you be one of them?
Reverse Mortgage Explained
You've probably heard a reverse mortgage explained a dozen different ways, but essentially the lender pays you to stay in your house instead of the more>