The cost of retirement and long term care continues to grow. Retirement plans and available funds of most seniors do not adequately provide for these expenses. However, a recent study found that 65% of those over 65 own their home outright, representing $5.1 Trillion Dollars in untapped equity. A federally insured Home Equity Conversion Mortgage (HECM) allows seniors to use this untapped home equity as a source of funding for retirement.
For examples of how a reverse mortgage can boost your retirement income click a link below: