Wise Reverse Mortgages Can Be the Saving Grace of Unprepared Retirees
If, after considering other housing options, you have decided to remain in an eligible home or to move into a new home, you may want to consider a Home Equity Conversion Mortgage (HECM) – more commonly known as a reverse mortgage – as a source of retirement income.
The vast majority of reverse mortgages in the United States are HECM reverse mortgages, which are regulated and insured through the federal government by the Department of Housing and Urban Development (HUD) and the Federal Housing Authority (FHA).
Pfau, Wade D. PhD, "Wise Reverse Mortgages Can Be the Saving Grace of Unprepared Retirees" (2016). Faculty Publications. 414.