Reverse Mortgage Myths: What’s the Truth?

There are 8 common myths about Reverse Mortgages:

1. A reverse mortgage sells the home to the lender
2. Heirs will not inherit the home
3. The homeowner could get forced out of the home
4. You could outlive the reverse mortgage
5. Social Security and Medicare will be affected
6. The homeowner pays taxes on a reverse mortgage
7. There are large out-of-pocket expenses
8. A reverse mortgage is similar to a home equity loan

Click here for the true statements relating to each of these myths.

Remember, companies that exclusively offer this product (and no others) make it sound like one size fits all. Reverse Mortgages are a small part of our business and thus we are not compelled to sell clients on a product that does not suit their needs. If you have questions or comments, send us an e-mail or give us a call.