Money Matters: Reverse Mortgages
COLUMBIA, S.C. (WIS) - For many, reverse mortgages can be confusing.
Josh Bradley of Capital City Financial Partners talked about the benefits and risks of those reverse mortgages.
“With interest rates really low and property values very high... it’s becoming something to talk about with many retirees,” said Bradley.
A reverse mortgage is tapping into the equity of your home in retirement to use it for retirement expenses. You may still live in your house having no mortgage payment to make.
Bradley noted that reverse mortgages can have a shady side as well. What to do?
“Make sure you talk to an advisor,” said Bradley. “Don’t just rely on that sales pitch from the mortgage provider.”
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