For Adult Children 

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With people living longer and longer, adult children—often with children of their own—frequently find themselves caught between supporting their parents as well as their own families. If your parents own their own home and have sufficient equity in that home, you can suggest that they consider a Reverse Mortgage to help provide additional monthly income, a lump sum to pay for medical expenses or upgrades to the home, in-home health care, or just to have the peace of mind of having a line of credit, should they need it.

Reverse mortgages are a proven and safe way for seniors 62 years of age and older to stretch their retirement income and still remain independent. Reverse Mortgages are guaranteed and insured by the Federal Housing Administration (FHA). As long as the borrower (or spouse, if the borrowers are a couple) remains in the house as the principal place of residence, your parent will not have to sell or vacate the home––even if the total of the payments, plus interest, exceed the value of the property.