How to Retire Using Your Home Equity (Reverse Mortgages Explained)

How to Retire Using Your Home Equity (Reverse Mortgages Explained)

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Is there a way for you to retire with NO money? What if you want to invest later in life but never got around to saving up a chunk of cash? Are you completely out of luck? Fortunately, no. Today, we’re diving deep into the often overlooked (and equally shunned) reverse mortgage, detailing who should use it, who DEFINITELY should not, and why it’s gotten such a bad rap over the last few decades. With some new reverse mortgage updates, this could be a viable move for those late to the game.

Besides reverse mortgages explained, we’re also getting into the dangerous reverse mortgage myths that are stopping many retirees from using this highly-regulated type of loan. So, if you’re in a position to use a reverse mortgage or have a retiring family member who can take advantage of their home equity, stick around!

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Check Out Another Mortgage Monday Video:
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Equity Rich and Cash Poor: A Real Life Case Study on How I Saved My Mother’s Home:
https://www.biggerpockets.com/blog/2013-05-01-equity-rich-cash-poor?utm_source=youtube&utm_medium=description&utm_campaign=none
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How Much Do You NEED to Retire? It’s Less Than You’d Think:
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00:00 Reverse Mortgages 101
01:19 Sponsor: NREIG!
01:49 What Is a Reverse Mortgage?
04:52 Who CAN Use One?
05:44 Who SHOULD Use One?
08:48 What Happens If You Pass Away?
10:51 Dangerous Reverse Mortgage Myths
16:09 Stuck in a Bad Reverse Mortgage?
16:42 Work with Christian and David!


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