Reverse mortgage valuation could transform retirement income forever
Real-World Impact and Examples
Consider the case of a retiree with a home valued at $300,000. Depending on their age and current interest rates, they might qualify for a reverse mortgage that provides them with access to $150,000 in home equity. This additional income can be used to cover medical expenses, travel, or simply to enjoy a more comfortable retirement. According to the National Reverse Mortgage Lenders Association, as of 2021, more than 1 million households have used reverse mortgages to enhance their financial stability1.