In this Barrons' article, the author discusses how financial experts began publishing research several years ago showing that the strategic use of reverse mortgages could help retirement portfolios better survive down markets or delay the claiming of Social Security benefits. He adds that lenders have been rolling out proprietary jumbo loans and they’ve become popular in places with high housing values where retirees can be sitting on a mountain of equity and still be short of income. For the moment, most jumbo reverse mortgages involve lump sums. But lenders are beginning to introduce jumbo mortgages that include a line of credit in addition to a lump sum.
Reverse Mortgages Can Help House-Rich Seniors Free Up Cash for Retirement. Here’s How They Work.
