Reverse Mortgages: Still Pluses and Minuses

Reverse mortgages can be a serious boon for some seniors. And with changes in regulations over the last few years, they’re not the danger that they once were. But that doesn’t mean that they’re completely without risk, either. CNBC covers some of the things you need to consider to make sure that a reverse mortgage is the right choice for you. There are some added expenses that you’ll definitely want to take into account before heading down this road. “reverse mortgages are best suited for homeowners who are healthy, intend to stay in their home for the long haul and are financially stable but may need extra cash to supplement Social Security or pay off medical bills.”

A mirror image of a house with the words reverse mortgage.