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Financial Smarts Newsletter


Financial Smarts spotlights important consumer topics such as insurance, retirement planning, saving, investing and other financial considerations people will face in their lifetimes.

Summer 2015

"Reverse Mortgages"

With the current economy in a state of flux, a reverse mortgage is often advertised as an affordable retirement option for homeowners. A reverse mortgage is a special type of home loan that lets the homeowner convert a portion of the equity in their home into cash.

                                                                     

Read the Summer 2015 Financial Smarts (PDF) and learn:

                             

  • how a homeowner becomes eligible for a reverse mortgage
  • some possible drawbacks of a reverse mortgage
  • the different types of reverse mortgages that are available to homeowners
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These materials are intended to provide general information and should not be used as a substitute for legal or other professional advice. Every effort has been made to ensure that the information contained in these materials were true and accurate at the time of publication. Some information may have changed since publication.






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