Reverse mortgages are a useful financial Planning tool
- Access the equity in your home. Proceeds can be used as you please.
- Make needed repairs like a new roof, furnace/air, windows, siding......
- Modify your home to meet your changing needs to provide a safe environment
- Create a "safety net" and let it grow tax free in a line of credit until you need the money, at some point in the future.
- Do the traveling, or vacationing, you always talked about while your health is good and you still want to go.
- Draw a monthly cash disbursement to supplement your pension or social security to help meet expenses.
- Consider gifting to your children, or grandchildren, at a time when they need it most and you're around to witness their enjoyment.