Reverse Mortgage Housing Market

Q: Are reverse mortgages, which allow homeowners 62 years and older to borrow against the equity of their home to get tax-free income, having an impact on the housing market?

A: I would say yes that's probably a factor, but I would suggest it's pretty minor because there are a lot of financial planners that I've encountered that actually suggest that they sell rather than get a reverse mortgage because with reverse mortgages there are a lot of restrictions. The amount that you can obtain is dramatically less than the amount you would realize if you sold it.

Receive a FREE Reverse Mortgage Analysis today!