Making the decision to embark on a Home Equity Conversion Mortgage is a big step for plenty of seniors. However, a new report shows that only a quarter of seniors actually feel comfortable in using reverse mortgages.
"Pointing to a paper he published in the Journal of Financial Planning, professor Jamie Hopkins took to Investopedia to lay out key ways that seniors could use their home equity in retirement — including the Home Equity Conversion Mortgage option," according to Reverse Mortgage Daily.
Hopkins does believe that with the recent changes and improvements to the reverse mortgage sector, it is still a viable option for seniors. He also includes a breakdown of reverse mortgages and some of the options that seniors have in terms of leaving properties to their children.
For more on this report, click on the image above.