Reverse Mortgages

This handout contains information for homeowners over age 62 who may be interested in converting the equity in his or her home into cash. Included is guidance on who qualifies for a reverse mortgage and examples of reverse mortgage situations.

HIGHLIGHTS: 

1. Tax-free income.

2. Reverse mortgage situations.

3. Applicable tax law.

4. Examples.

5. Possible risks.

CLIENTS WHO MAY BENEFIT:

1. Older homeowners looking for an additional source of income.