Asking for a Friend - I've seen commercials on TV for reverse mortgages, is that something that I should consider?

March 18, 2024

Question:

I've seen commercials on TV for reverse mortgages, is that something that I should consider?

Answer:

Reverse mortgages are more highly regulated than they used to be and in certain cases may be a good option.

  • A reverse mortgage might be worth looking into if you are over age 62, own more than 50% of your primary residence, and need additional income.

  • You also want to be sure that you are staying in the home and that you are comfortable leaving the property to your heirs with a mortgage attached to it that will need to be paid off.

If these items apply to you, consider talking to a financial planner about this option.


Do your friends ask you financial questions?
Pass those questions on to us at AskRPG@rootedpg.com and we will feature them in our future newsletters.