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Reverse Mortgages Are Becoming More Popular Than Ever. Should You Get One?

December 6, 2021

From the Motley Fool website

Many seniors struggle in retirement once they move over to a fixed income that consists largely of Social Security. If you’re in that boat, you may be considering a reverse mortgage.

Steve Irwin, President of the National Reverse Mortgage Lenders Association, reports that these loan products are becoming increasingly popular. “We saw a 34% year-over-year increase in reverse mortgage volume to over 43,000 loans in 2020,” he says, “and we anticipate a similar increase in production in 2021.”

But is a reverse mortgage right for you? Here’s how to know.

From → Finance

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