I just finished watching this video from "Inside E-Street" by AARP. An extremely balanced piece on reverse mortgages. The video is a half an hour in length and is packed all the way through to the end with great information. I heartily recommend listening to the whole piece.
They don't really mention all othe other options that senior homeowners should look at, besides a traditional home equity line. So I will fill you in here.
- Alternative Options that should be looked at when considering a reverse mortgage.
- Regular Line of Credit
- City, County & State Property Tax deferral programs
- Selling the Home
- Renting out a portion of the home.
- Obtaining part or full time employment
Can you think of any others?