The National Reverse Mortgage Lenders Association (NRMLA) recently released a series of online educational sessions in honor of Reverse Mortgage Education Week, which was held at the end of April. The series was really informative, highlighting everything from home modifications with home equity to strategies for separating spouses.
The ability to access tax-free funds when you’re 62 or older can have many, many benefits. With seniors living to an average age of 85 and one-fifth of Boomers turning 65 by 2030, it can be essential for seniors to rely on a source of income or “nest egg” of sorts. For many, that option can be reverse mortgages.
Seniors already have to worry about aging in place, the loss of a spouse, early retirement, a growing family, and their current and future medical needs, including in-home care. It would be a shame for someone who led a fulfilling life to have to struggle through their remaining years if they don’t have to.