Reverse Mortgages can be a Financial Tool
Reverse mortgages are more commonly being used as a financial tool for long-term goals. Educate your borrowers about the various ways to leverage this asset to maximize their income. Using a reverse mortgage as a financial tool can be a key component when setting up a long-term financial future. Help your borrowers do the research, understand the benefits and strategize if a reverse mortgage is for them.
According to Wade Pfau, Ph.D., Professor of Retirement Income at the American College of Financial Services “Risks change in retirement. Don’t look at the reverse mortgage in isolation but as one part of a larger strategy.”
Here are a few indicators that this could be an option for your clients:
- Your client plans to stay put
- Your client can afford the upfront costs
- Your client can coordinate with other investments
Check out this article covering the key takeaways from a reverse mortgage.
Find out more about reverse on the Plaza Home Mortgage® website, and reach out to us at Reverse@plazahomemortgage.com. Let’s explore adding this strategy as another option for your borrowers and your business.
