NY Times: Reverse Mortgage Can Extend Retirement Savings

The New York Times published an article titled, "6 Strategies to Extend Savings Without Working Longer."  The article discusses the position most older Americans are facing today which is not having enough retirement savings to last the rest of their lives.  Many have no choice to continue working past their sixties.  However, working longer is not always an option so the article gives way to six other strategies to consider.  One of the strategies suggested is to take out a reverse mortgage.  As the writer points out, a reverse mortgage will help people to unlock the money that is locked inside their homes.  A reverse mortgage line of credit can be used as a standby strategy to have money available for when a need arises without running the risk of having the credit line reduced or closed.  In fact, this line of credit has a growth rate attached which will increase the availability of funds over time.  Read the entire article here.

For more information on reverse mortgages and other related topics contact:

Rick R. Rodriguez
Certified Reverse Mortgage Professional, CRMP
NMLS# 473353
Toll Free (877) 500-0454
Local (702) 460-6222