No Retirement Savings At 60 - Reverse Mortgage Options

"More than fifty percent of all Americans over 55 have no retirement cost savings whatsoever." baseding on the June 7, 2015, short article in the Guardian. Either all of us remain in rejection or it is impossible to except for retired life. If either is true, where will Americans get money for a safe area to live and the needs of life when they quit working? Simply put, a reverse mortgage will permit you to take advantage of some of the equity of your home without the problem of a month-to-month mortgage payment. All you have to do is pay the taxes, insurance policy, and keep the home livable, as you would have to do with any kind of mortgage or perhaps if you really did not have a mortgage. The drawback is that the lending lowers your home's equity as you use it. The passion for the money you have utilized from the loan is merely contributed to the loan monthly. That's why you do not have a monthly repayment. The matching advantage is that you will be assured to have a home for the remainder of your life and using the cash from the reverse mortgage. I created this video with the YouTube Video Editor (https://www.youtube.com/editor)