I met a a lady there. We were talking about the economic mess and WAMU, and other recentban k failures. She asked me what I did and I said I handled retirement assets, reverse mortgages, and LTC and LTD policies. When I mentioned Reverse Mortgages she Asked are they ever a good idea? I said yes they certainly can be and gave here several examples from my personal experience. I admitted they are not right for everyone but made a lot of sense for the clients that I mentioned. Remember many seniors are being battered by rising expenses, have no means of increasing their income and for many of them their assets are being destroyed by the second market collapse in 8 years. Most peoples assets have fallen 20% or more which pushes them into a spiral when assets loose value you have to draw a larger percentage of your assets to preserve your income all at the same time that expenses are spiraling upwards. YES for many people a Reverse Mortgage or more correctly an HUD HECM Reverse Mortgage is a good or even a necessary thing. This is not the only technique we can evaluate that can help seniors enjoy retirement or help boomers prepare for retirement. It is one very useful technique.
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Tags: Money, Finance, Reverse Mortgage, Hud HECM Reverse Mortgage
