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Life Planning


Q Reverse Mortgage
  Aug 21, 2008

As my partner & I approach retirement, we realize that the biggest asset we have is the substantial equity in our home. Will there ever be a favorable reverse mortgage option that will allow us to access those funds during retirement without incurring high interest and fees?


A Response from Mr. Bowden

Thank you for your question. This is a difficult one for me as I am unable to predict what may or may not happen to interest rates and fees associated with reverse mortgages. However, I'd ask of you...Do you need to tap into the equity of your home to live? If the answer is yes then reverse mortgages are one way of doing it...there are other ways. I'd suggest exploring all of your options. I hope this answer has been helpful. ENJOY YOUR DAY!

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