Seniors often turn to reverse mortgages to pull equity out of their home to help cover increased expenses at a time when their income is flat or has declined. Without proper planning, this type of loan can have unexpected and sometimes disastrous consequences for the borrower and surviving family members.
- Help your client decide whether a reverse mortgage is a good fit
- Avoid foreclosure by mitigating common property tax, repair, and insurance issues
- Address issues arising from nonoccupancy and nonborrower spouses
- Ensure the surviving spouse or family can retain the home